“The country’s highest court ruled that the ECB’s 2012 bond-buying plan called Outright Monetary Transactions (OMT) is legal under the German constitution. OMT – though never actually used – was part of ECB’s President Mario Draghi’s landmark promise to do ‘whatever it takes’ to save the battered euro at the height of the crisis in 2012. The promise of OMT was that the ECB could, if necessary, buy up unlimited amounts of government bonds from debt-stricken countries that had pledged reforms such as Italy, Spain and Portugal. Critics charged that the ECB is essentially printing money and lavishing it on states, leaving taxpayers with the risk of one day having to foot the bill.”
https://www.enca.com/money/german-court-rules-in-favour-of-ecb-crisis-fighting-tool
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