The European Central Bank’s (ECB) policymakers have agreed to provide Bundesbank with documents on proportionality to support the legal case in a challenge by Germany’s constitutional court, Reuters reported on Wednesday, citing sources familiar with the matter.
“With the release of the documents, the next step is for the German government and the Bundestag to assess whether they consider the scheme proportional,” Reuters further added.
Market reaction
The shared currency failed to capitalize on this headline. As of writing, the EUR/USD pair was down 0.42% on the day at 1.1260.
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