Draghi will explain today the details of his plan to buy sovereign debt. The intervention is spurring high expectations, such that an unstable spiral could result if people continue to evade taxes.
Officials are rather sure that this won't happen. The European Central Bank (ECB) itself trusts that its program will end the Bundesbank's hesitance and will recuperate the market' faith in the euro. For Spain, today is a decisive day. People expect that pressure on its debt will lift, although this solution also entails strict conditions.
When Merkel meets with Rajoy, she will convey what the EU wants from Spain in exchange for Germany's aid. This boost will help us meet our obligations without suffocating, although the work won't be easy.
