May.05 — European Central Bank policy makers have three months to prove to Germany’s highest court that its asset-purchase program is lawful, after judges said that some parts of the scheme aren’t backed by European Union treaties. John Normand, head of cross-asset fundamental strategy at JPMorgan, says that the ruling won’t constrain ECB policy in the short term. He speaks on “Bloomberg Surveillance.”
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In This Story: Germany
Germany is a federal parliamentary republic led by a chancellor. With over 83 million inhabitants of its 16 constituent states, it is the second-most populous country in Europe after Russia, as well as the most populous member state of the European Union. Its capital and largest city is Berlin, and its financial centre is Frankfurt; the largest urban area is the Ruhr.