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This a rather unfortunate end to a thoughtful think-piece...



Imagine if Draghi had not acted, as he did during the crisis, what would you be writing about then? ECB has secured the path for stability and development and financial markets have responded, so far, positively.



The German Karlsruhe Court decision will have no or little effect on ECB, as an independent EU institution under Lisbon Treaty.



BTW Karlsruhe has no substantive legal authority to deal with non-German institutions, by German law. And , if it does, it'd held by ECJ to order!