An obvious additional complication was that any solution would have to be agreed by the seventeen Eurozone member countries through their political instances.
After many months of hesitation and confusion, a successful two-pronged stabilization strategy was finally implemented: First, through different facilities, the European Central Bank eventually guaranteed the provision of sufficient liquidity to backstop the interbank and government debt markets; it is worth mentioning the unlimited financing through the Target 2 mechanism, the LTRO (Long-Term Refinancing Operation), and the OMT (Outright Monetary Transactions).