-Caused by unfounded fears of euro area break-up; -Has enormous respect for Bundesbank; many of its concerns shared by members of governing council; -ECB had a chance to say no to everything; chose to act; -OMT to help stabilize many markets; -Have seen real money flows back into euro area; investors recognizing policy progress; -ECB actions in Germany’s interests, have been beneficial for Germany; -Stable euro area supports a strong Germany; strong German economy supports a stable euro; -OMT solely to support monetary policy transmission (cough, cough); -OMT comes with strong conditionality; -Does not represent ... (full story)