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important isn't babbling to the press or even to courts but monetary policy/ lender of last resort
I beg to disagree. The recent European Court of Justice's Advocate General opinion on OMT defining that secondary market purchases must allow "sufficient time for market price discovery" is an example of how recourse to the courts is extremely important and increasingly constrains monetary policy, as a direct consequence of German pressure.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Mon Mar 16th, 2015 at 05:22:24 AM EST
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