16/6/15: Sinn on ECJ’s OMT Ruling

Hans Werner Sinn on ECJ ruling concerning OMT:

Not always to agree with, but he’s got a point there… Which makes for an interesting debate: is a promise / threat of an action equivalent to an action? In markets – which are based on expectations, as much as physical changes – this just might be so. In which case ECJ shows little ability to understand the market, even if it has great ability to understand the law.