Damp squib

So Draghi has spoken and immediately the markets went down and Spanish borrowing costs rose!

http://www.spiegel.de/international/europe/ecb-head-mario-draghi-disappoints-markets-with-euro-plan-a-847895.html

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9448033/Markets-crumble-as-Draghi-bond-plan-deemed-too-vague.html

http://www.telegraph.co.uk/finance/debt-crisis-live/9445750/Debt-crisis-Markets-fall-after-Draghi-disappoints-live.html

http://www.telegraph.co.uk/finance/financialcrisis/9446800/ECB-press-conference-Mario-Draghis-opening-statement.html

http://www.telegraph.co.uk/finance/financialcrisis/9446836/Mario-Draghi-on-the-eurozone-in-quotes.html

http://www.telegraph.co.uk/finance/financialcrisis/9446910/Mario-Draghis-speech-what-the-analysts-say.html

http://www.telegraph.co.uk/finance/financialcrisis/9446284/If-you-go-soft-on-debt-we-want-our-spiked-helmet-back-Bild-tells-Mario-Draghi.html

Alternative viewpoint:
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100019312/draghi-delivers/

http://www.telegraph.co.uk/finance/comment/damianreece/9447711/Draghi-allows-time-for-eurozone-politics-to-prepare-for-Spanish-bail-out.html

Without German support none of this will happen and so far the Germans are not playing ball.

Meanwhile:

http://www.spiegel.de/international/europe/ratings-downgrade-turns-slovenia-into-europe-s-latest-problem-child-a-848068.html