While all of Europe is taking a socio-economic beating the German Federal Court of Justice opined that the bond-buying programme of the European Central Bank that emerged after the last debt crisis is in part unconstitutional and touches on the principles of the German (Federal) Constitution.
The current crisis is threatening to tear apart the European construct and project.
The European Central Bank (ECB) and the National Bank of Bulgaria (BNB, the central bank) have set up a swap line to ensure liquidity of up to two billion euros, the BNB said on Wednesday. The line will be in force until the end of 2020 or until needed. The maximum maturity in respect of each withdrawn amount will be three months, BTA reported.