DislikedThat's the thing (and the problem for the ECB) mate. Greece, Portugal and Ireland has been peanuts €€€ wise.
As long as Spain and Italy don't take a bailout there is no really "printing money" in place, is more like "stretching" a bit the ECB balance sheet buying bonds and etc but most of them is still been sterilized so ...the impact is almost null in that front
The real deal as you imply is when Spain bite the bullet. That's why is so important all these ESM, EFSF, German Court, bla bla ...is for when the ECB actually needs to print money...Ignored
this is/would be the second time Spain asked.. it was tongue and cheek in the wording the first time.. it was so called "for the banks" then the banks bought some Spanish debt with some of the money. a shell game. in the u.s. this would be called laundering.. trying to hide the purpose of the money.. to fool the masses
those who can, do. those who cant, talk about those who can