CJEU-Judgment on ECB bonds buying

The Court of Justice of the European Union (CJEU) was referred by the Bundesverfassungsgericht (Federal Constitutional Court, Germany) the following questions: 1. Whether the programme for the purchase of government bonds on secondary markets (“PSPP programme”) falls within the mandate of the ECB (“European Central Bank”); 2. Whether such programme infringes the prohibition of monetary financing. By today`s preliminary ruling, the Court finds that consideration of the questions above has disclosed no factor of such a kind as to affect the validity of the PSPP programme.