In the online blog VoxEU of the Centre for Economic Policy Research (CEPR), Helmut Siekmann and Volker Wieland have analyzed the decision of the German Constitutional Court.
The authors have examined the relationship between the European and the German Court and the implications for the outcome of the lawsuit as expected by the financial markets. In this regard, they come to the conclusion that "the benign response of the financial markets may be due to an expectation of a likely compromise between the European and the German Courts".
CEPR Policy Insight No. 74
"The German Constitutional Court's decision on OMT: Have markets misunderstood?"