[As you know,] the most powerful Roman after Julius Caesar and his three famous words “veni, vidi, vici” is President Draghi with his famous three words “whatever it takes” (to save the euro) announced in July 2012 in a speech in London, thereafter quantified with the announcement of the OMT programme in September of the same year, which resulted in a huge drop in Italian and Spanish yields as you can see from the following Figure (page 18).
And you know how much money the ECB has spent for this?? € 4.2 Return to international capital markets There are two different issues here: one is a tentative return which may take place within this year, for instance, the recycling of the three-year bond issue of September 2014 or the reopening of the existing five-year bond issue which matures in 2019.