The European Central Bank (ECB) said it would not apply the maximum holding threshold of 33% of the sovereign debt of a single country in the PEPP operation of massive repurchase of public and private bonds, according to a decision published on the night of Wednesday 25 to Thursday 26 March.
By lifting this self-imposed limit, the ECB is exposing itself to a new legal dispute over the PEPP operation. Critics of this type of operation, particularly in Germany, have accused the monetary...