BBC News
October 27, 2011
So what are the hurdles that the eurozone leaders were trying to overcome?
The missing details in last night's statement from eurozone leaders have been much discussed. But we know two key things today that we didn't know at the start of this week. One is short-term, but welcome. The other is very long-term, and will be troubling to some.
The first thing we have learned is that the European Central Bank will remain in a position to buy the government debt of countries like Italy and Spain, even now the enhanced rescue facility, the EFSF, has been ratified.
True, we only know this because Mario Draghi, the incoming head of the central bank, said so - not because of anything agreed by the heads. And we don't actually know that the purchases will continue - for example, when the EFSF wins all that extra leverage it is supposed to be getting - only that they could.
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