Relevant:
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- Prime Ministers of Spain and Italy Call on European Leaders for Help
- Mario Draghi: ECB prepared to cut interest rates and expand QE (AKA "DO WHATEVER IT TAKES 2.0"...)
- Spain and Italy borrowing rates soar in latest auctions
- European shares boosted by Mario Draghi's dovish tone
2012-07-26 — nytimes.com
The euro and European stocks rose sharply Thursday after Mario Draghi, president of the E.C.B., said in London that the bank would "do whatever it takes to preserve the euro."
His comments were interpreted by some to mean that the E.C.B. might resume intervening in bond markets to keep borrowing costs for Spain and Italy under control.
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