You may or may not remember that last year there were a couple of complaints brought up in the German constitutional court about the legalities of the ESM and ECB bond buying program. These were kicked into touch by the Karlrushe based courts. Further complaints have since been put forward (seven in total) and they are to get a public hearing June 11 & 12. One German law expert believes that these complaints will also get slung out. There will be no final verdict at the hearings but this is something that could come into play, market wise, with German elections in September.