Jerome Paul Booth of Ashmore Investment, says that the German Constitutional Court decision is very important as it removes a possible barrier for the implementation of the program of trying to aid the peripheral European countries. The court, however, imposed a limit on the amount of exposure that can be taken.
There are some leaked reports that say Mario Draghi will announce unlimited purchases of bonds upto three years from European sovereigns. Jerome Paul Booth of Ashmore Investment says unlimited bond-buying by the ECB will face opposition.
In an interview to CNBC-TV18, Jerome Paul Booth, head of research, Ashmore Investment says that a third round of quantitative easing is close at hand but that is hardly great news for global markets.