Germany’s highest court conditionally approved a giant bond-buying program launched five years ago by the European Central Bank, but demanded more information about its economic justification, in a move that could set limits on the ECB’s firepower and invite fresh lawsuits in Germany. The judgment, which was tougher than many analysts had expected, comes at a delicate time for the ECB. The bank recently launched a new €750 billion ($817 billion) bond-buying program aimed at containing the economic fallout from the coronavirus...

Source: Wall Street Journal May 05, 2020 13:33 UTC