ECB's Mersch up in front of the red hats in Germany

Yves Mersch makes the ECB's case for OMT

• ECJ established that OMT was acting within its mandate
• ECB's only goal is price stability
• ECB has to be able to decide policy independently
• OMT is part of tool kit and can be used if necessary
• A central bank can operate with negative equity
• Eurozone is in a slow but steady expansion

In other CB news;

ECB's Nouy has also popped up separately saying the banking sector is more resilient than in 2012. Whoop-de-doo