ECB rebuffs Bundesbank call for new limits on its mandate

 
City A.M. Reporter
THE EUROPEAN Central Bank (ECB) yesterday defended itself in a German court against suggestions that its bond-buying ability should be restricted.

More than 35,000 Germans have filed complaints that the ECB plan to buy up the debt of stricken Eurozone member states under its Outright Monetary Transactions (OMT) scheme violates their constitution. But Chancellor Angela Merkel has defended the ECB.