Fabio im EUobserver


Der EUobserver berichtet in einem Artikel über die Verhandlung vor dem EuGH zu den sogenannten "Outright Monetary Transactions" (OMT), d.h. zu der Ankündigung der EZB unbegrenzt Staatsanleihen aufzukaufen. Fabio De Masi wird in diesem Artikel als Mitglied des Ausschusses für Wirtschaft und Währung (ECON) dazu zitert.

ECB lawyers defended the bond-buying programme at the heart of Mario Draghi's promise to do "whatever it takes" to protect the eurozone at the EU’s top court in Luxembourg on Tuesday (14 October).


The programme, known as Outright Monetary Transactions, was launched in September 2012 at the height of the eurozone crisis.

ECB president Draghi at the time told reporters that the bank would do "whatever it takes" to save the single currency - his three most famous words.

It allows the Frankfurt-based bank to buy potentially unlimited amounts of government bonds, effectively making it a bank of last resort. However, the ECB insists that eligibility for the programme depends on countries making structural reforms to their economies.


Speaking with EUobserver, Fabio De Masi, Die Linke’s MEP in charge of economic affairs, noted that the programme had been "very effective” in calming financial markets.

But he said it “failed on the real economy since it is attached to austerity and lacks democratic scrunity".

He added that the bank is "technically conducting fiscal policy but without democratic scrutiny … if they want to do politics they have to be accountable".

The ECJ ruling is expected early next year.