Updated June 21, 2016 12:26 p.m. ET
FRANKFURT—Germany’s top court ruled Tuesday that an unlimited bond-buying program created by the European Central Bank at the height of Europe’s debt crisis complies with German law, ending a yearslong legal challenge to a program credited with easing fears of a breakup of the currency zone.
The verdict is an important victory for ECB President Mario Draghi over his German critics at a time of renewed tensions between the ECB and its biggest shareholder, Germany.