Parallel measures to ESM und EFSF such as the ex-ante
unlimited purchase of sovereign bonds, the neutralization of interest spreads, the higher
risk of suffering a haircut on debt, the possibility to hold sovereign bonds
until they are due, and the influence on market indices and stock prices, as well as the intended persuasion of participants to purchase government bonds on the primary market, lead the BVerfG to redeem OMTs as such bypasses.