printing money instead of stopping traders, page-11

The "sterilized" bond purchases were reportedly designed to offset against recovered bank deposits and avoid inflationary pressures (even though as I've repeatedly posted, I cant see even the slightest whiff of the much cited hyperinflation that is supposed to boost gold prospects).

But I agree it's all moot anyway. AFAICS nothing's changed as we still have the impasse over fiscal conditionality. This was made clear by the Germans last time (when the mainstream media were crowing about a supposed backflip by Merkel).

These steps haven't even happened yet:
(1) Debtor nation asks for bailout
(2) Fiscal conditionality enforced (by you know who)
(3) Debtor nation confronted with a decision it doesn't want to face

Impasse.

Will debtor nations agree to hand over some of their fiscal sovereignty to the Germans? Or will Germany meekly agree to tip in more significant funding and guarantees without any fiscal conditionality?

That's assuming the Germans courts don't in the mean time throw a spanner into this all by ruling the structure is unconstitutional anyway.