ECB faces three suits over QE in German court

Elusive goal: Draghi holds out the prospect of more stimulus next month, when new consumer-price and growth forecasts will be published.— Bloomberg

BERLIN: The European Central Bank’s (ECB) 1.1 trillion-euro (US$1.2 trillion) asset-purchase programme is the target of three lawsuits pending in Germany’s top constitutional court that challenge the country’s role in the policy, a tribunal spokesman said.

The first suit was filed in May, the second in September and the third in October, according to Michael Allmendinger, a spokesman for the Federal Constitutional Court in Karlsruhe. The September action was brought by Bernd Lucke, the head of political party Alfa, said Allmendinger. He declined to disclose the other plaintiffs as they haven’t made their cases public.