Adviser to EU court says key ECB backstop for eurozone is compatible with treaty

January 14, 2015 8:30 AM

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FRANKFURT, Germany – An adviser to the European Court of Justice says the European Central Bank's offer to purchase government bonds of troubled countries is "compatible in principle" with the EU treaty.

The bond purchase program helped calm market turmoil that threatened to break up the euro currency union when it was announced in 2012 but never implemented.

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