Does the European Central Bank (‘ECB') have the mandate to do ‘whatever it takes' to save the Euro? While the German Constitutional Court answered the question with a clear ‘no', the European Court of Justice suggested that the ECB did in fact have that mandate. This judicial battle for...

The programme of outright monetary transactions (OMT) announced by the European Central Bank, allowing it to act in effect as a lender of last resort for Eurozone states in financial difficulty, has widely been credited as an economic success. Constitutionally, however, the programme has faced...