The tide of crisis, it seemed, had begun to turn, particularly after the German Constitutional Court upheld the European Stability Mechanism, Europe’s bailout fund. Despite the ECB’s imposition of conditionality on beneficiaries of its “potentially unlimited” bond purchases, financial markets across Europe and the United States staged a major rally.
危机潮流似乎已经开始逆转，特别是在德国宪法法院支持欧洲援助基金——欧洲稳定性机制（ESM）之后。尽管欧洲央行的强调，享受其“实质无限量”债券买入计划好处是有条件的，但整个欧洲和美国的金融市场都出现了大反弹。