Exclusive: ECB prepares for the worst: life without the Bundesbank – sources

spike

FRANKFURT (Reuters) – The European Central Bank (ECB) is drafting contingency plans to carry out its multi-trillion bond-buying programme without the Bundesbank in case Germany’s top court forces the main participant in the scheme to quit, four sources told Reuters.

FILE PHOTO: A man walks towards the European Central Bank (ECB) headquarters in Frankfurt, Germany, July 25, 2019. REUTERS/Ralph Orlowski/File Photo

In this worst-case scenario, the ECB would launch an unprecedented legal action against the German central bank, its biggest shareholder, to bring it back into the programme, said the sources, who spoke on condition of anonymity.

The moves would

Read More

EU could open legal case against Germany over ECB bond-purchases ruling: Commission

spike

FILE PHOTO: European Commission President Ursula von der Leyen speaks during a news conference after a video conferenced EU summit with European heads of state to discuss measures related to the coronavirus disease (COVID-19), in Brussels, Belgium April 23, 2020. Olivier Hoslet/Pool via REUTERS/File Photo

BRUSSELS (Reuters) – The European Commission could open a legal case against Germany over a ruling by the country’s constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday.

The German court in Karlsruhe last Tuesday gave the ECB three months to justify its

Read More

EU could open legal case again Germany over ECB bond-purchases ruling: Commission

spike

FILE PHOTO: European Commission President Ursula von der Leyen speaks during a news conference after a video conferenced EU summit with European heads of state to discuss measures related to the coronavirus disease (COVID-19), in Brussels, Belgium April 23, 2020. Olivier Hoslet/Pool via REUTERS/File Photo

BRUSSELS (Reuters) – The European Commission could open a legal case against Germany over a ruling by the country’s constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday.

The German court in Karlsruhe last Tuesday gave the ECB three months to justify its

Read More

Stocks rally on treatment hopes, currencies await ECB

spike

SINGAPORE/NEW YORK (Reuters) – Asian stocks rose to a fresh seven-week high on Thursday, lifted by encouraging early results from a COVID-19 treatment trial, though bonds and currencies held cautious ranges ahead of a European Central Bank meeting later in the day.

Anthony Fauci, the top U.S. infectious disease official, said Gilead’s (GILD.O) antiviral remdesivir will become the standard of care for COVID-19 after early results from a trial seemed to show it helped speed recovery.

The news rallied Wall Street on Wednesday and lifted MSCI’s broadest index of Asia-Pacific shares, excluding Japan .MIAPJ0000PUS, by 0.8% to its

Read More