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Comments by Yves Mersch, Member of the Executive Board, on the legal opinion of the Advocate General of the European Court of Justice in the OMT case

14 January 2015

“We take note of the European Court of Justice Advocate General’s legal opinion in the Outright Monetary Transactions (OMTs) case. This is an important milestone in the request for a preliminary ruling, which will only be concluded with the judgement of the Court.

In the meantime OMTs are ready and available subject to the publication of a legal act.

We have always been convinced that OMTs are legally sound and in line with our mandate.

Any decision the Governing Council takes will be motivated by and restricted by its mandate to ensure price stability. As in the past, the Governing Council will comply with EU law.”

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