- It's a little complicated, but the latest legal drama taking place in Europe highlights a power struggle that could undermine the euro.
- The European Commission is threatening to sue Germany after the country's top court last Tuesday questioned the legality of the ECB's bond buying program, gave the ECB three months to justify the scheme or said the Bundesbank might have to quit it.
- The announcement is not likely trigger an infringement procedure, but is more of a deterrent to show who has final say in these scenarios.
- "The last word on EU law is always spoken" by the European court, European Commission President Ursula von der Leyen declared. "Nowhere else."
- ETFs: FXE, EUO, OTC:ERO, DRR, ULE, EUFX, URR, DEUR, DLBR, UEUR