BRUSSELS Feb 7 The European Commission welcomed
the decision by Germany's constitutional court on Friday to
refer a sensitive case involving the European Central Bank's
monetary operations to the European Court of Justice.
"It's the first time that the (German) court has taken such
a decision," said Simon O'Connor, the Commission's spokesman on
monetary issues. "We welcome the fact that the court has
referred this question to the European Court of Justice."
The Commission has long supported the decision by the ECB in
2012 to introduce "Outright Monetary Transactions", a policy to
help quell the euro zone's sovereign debt crisis. However, the
policy was challenged in the German court as going beyond the
mandate of the central bank.
O'Connor said the Commission, as is usual, would provide
written and oral submissions to the European Court of Justice as
it prepares to examine the case.