Strong will and determination from Draghi. In the end that's what counted.
Inside Mario Draghi's euro rescue plan
On a warm summer day on the eve of the Olympic Games, European Central Bank President Mario Draghi stood up at a business conference in London and dropped a bombshell. "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro," Draghi told the audience in Lancaster House, a grand building in central London, then paused for effect. "And believe me, it will be enough." Global markets, full of talk of a euro zone break-up, rallied sharply on Draghi's unexpected message. Just as shocked were the ECB boss's aides and his colleagues on the bank's policymaking Governing Council, none of whom knew ... (full story)