Europe’s coronavirus stimulus in doubt as Germany’s top court rules ECB quantitative easing program could be illegal

“Whatever it takes.” With those three words, former European Central Bank President Mario Draghi burnished his legacy during the tumult of the euro crisis in 2012 and opened an unreconcilable wedge between the euro zone’s fiscal hawks in the prosperous North and the debt-laden South. Fast-forward to this year’s coronavirus crisis, and Draghi’s successor Christine Lagarde tried to avoid following suit—until…
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