EU / ECB / SPAIN / GERMANY : 07 Sept UPDATE: Madrid Protests Merkel Visit; Draghi's OMG Moment For Rajoy...With 'OMT' Plan.

http://www.euronews.com/2012/09/07/euro-crisis-protests-for-merkel-in-madrid
   TO WATCH : 57 Video Report

      It got nasty in Madrid...as 300-1,000 people protested visiting German Chancellor Merkel.

      Protest signs sported swastikas...condemning a 4th Reich...and even Merkel's face superimposed on Hitler's body.       
     But...Spanish PM Mariano Rajoy has one less excuse not to humble himself...and submit to the ECB.

      As promised...ECB head Mario Draghi finally acted...even after a Bundesbank chief threatened to resign.
      Draghi unleashed 'the bazooka'.
      He announced a plan for the purchase of unlimited amounts of 2-3 year bonds...to help lower financing costs...but ONLY if countries request the help...and submit to new conditions.

      Draghi's announced plan...the 'OMT'...sent world markets soaring.
      But...for political reasons...Rajoy continues to dither...hiding behind vague and meager communications...but wanting to avoid humiliating 'Troika' visits and more austerity conditions imposed by another bailout...while Spain suffers from a deepening recession and high 25% unemployment.
     A spokesman said the government will not be rushed with an 'overnight' decision on a bailout...even if 30 billion euros/$38 billion are due for repayment in October.
    Also...for the first time since May...yields on Spain's 10-year bonds dropped below 6%.

        ORIG ANALYSIS  LINK: http://www.reuters.com/article/2012/09/06/us-eurozone-rescue-idUSBRE8850ZK20120906