The European Central Bank has narrowly exceeded market expectations of the scale of its total quantitative easing programme, saying it will buy €60 billion of securities a month over a period of 1.5 years.
Opposition to the announcement was already building earlier today, with eurosceptic German lawyer and politician Peter Gauweiler saying he was exploring a legal challenge to prevent the ECB from taking on the ‘common liability’ of member state sovereign debt
Lawyers acting on his behalf would ‘closely analyse today's decision by the European Central Bank council and pre-emptively prepare a complaint,’ with the German Constitutional Court, he added.
Thursday, January 22, 2015
"Euro nosedives as ECB launches €1.3 trillion QE plan"