German State Of Saxony Supports Legal Action Against ECB Bond Buying

German State Of Saxony Supports Legal Action Against ECB (ZeroHedge, Sep 7, 2012):

Since there have been tens of thousands of lawsuits filed internally in Germany with its constitutional court alleging the ESM is illegal, it was only a matter of time before the Germans decided to sue the ECB as well for its “unlimited” bond buying. The time has arrived. From Bloomberg:

  • TILLICH SUPPORTS LEGAL STEPS AGAINST ECB BOND BUYING: WELT
  • TILLICH SAYS ECB BOND BUYING SIGNALS EFSF, ESM NOT ENOUGH: WELT
  • TILLICH: ECB MANDATE SHOULD NOT INCL. UNLIMIT. BOND BUYING:WELT

Perhaps all those rumors of the Bundesbank’s death were, as we expected, rather exaggerated.

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