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ECB nemesis Kerber weighs action against new debt shield

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Reuters UK

By Frank Siebelt FRANKFURT (Reuters) – The German academic behind the European Central Bank’s biggest court setback is weighing legal action against the ECB’s new bond-market shield, which he sees as “blatant” aid to Italy and other debt-laden states. Markus Kerber is taking aim at the Transmission Protection Instrument (TPI), which will let the ECB buy bonds from countries that come under what it deems unjustified market pressure, provided they follow the European Union’s economic prescriptions. The professor of public finance at Berlin’s Technical University said these potentially unlimited …

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