video transcript

The ECB. Is ready to do what ever it takes. To preserve the U world. And believe me it would be enough. It doesn't London on July the 26 when Mario Draghi president of the ECB Madonna's tips on the table ready to pull off some -- -- gamble. He was letting a lot no he was going to save the Euro nothing -- that while only one thing he hadn't let family CBO officials are senior politicians. And on the plaza -- speech in London set off a friend C diplomacy. If it is surprised virtually everyone on the board according to our sources. And we we we saw the French board member calling different president post well longed. The German board member calling Angela numerical getting them together. And that but this also crucially set off. Set off alarm bells in the Bundesbank. Which has opposed drive -- planned. Drug was forced it fitted to meet with a yen -- my and the head of the Bundesbank to clear the air. It took another six weeks of pop bargaining behind the scenes if want to argue -- ready to go public with more details on conditions the troubled countries have to meet in return for the ECB buying a -- streets and you. Outright monetary transactions -- Graham. We -- to preserve the single miss all of our monetary policy. And to ensure the proper presentation of our policy stance. To the real economy throughout the U -- All NT's. We -- will enable us to aggressive media distortions in Goldman's bond markets. Which originate from in particular. Unfounded fears on the part of investors of the rivers should be the -- of that you. Most policymakers including time and time slash -- and America are behind him. But there's one notable except send Bundesbank chief byte man who's a position to -- on buying house cost Draghi public support in Europe's biggest economy. And without Germany has plans could be -- So our markets convinced that Draghi has pulled off his big gamble. Non Null set I had not because of what he's done but because of the push by guys coming game from the Germans and specifically from the bottom despite. I think the bond issue. Rounds the risk of showing that this is actually limited action. Rather an unlimited action and -- not the case the marquis he's gonna Hopkins says that if the support for its despite not fine. What initially he supports is that limited -- ability of these sea bass a lot that can approve the Achilles -- of his policy. Targets planned Sutton has bought Europe time. Now it's down to the -- politicians to make the most of it.