The euro crisis is not over and is about to get interesting

``Meanwhile, if bond buying is to be sanctioned, the relevant countries have first to apply for assistance. This is not a done deal. If they apply, they must agree to abide by conditions which imply a humiliating loss of sovereignty and yet more austerity''

Here is Ambrose Evans-Pritchard on the same subject: Carthaginian terms for Italy and Spain threaten Draghi bond plan.