If these three steps – an ECB bond-buying program to hold down sovereign interest rates, concrete progress on establishing a real economic union, and realistic revision of current adjustment programs – could be achieved as a package, the resources that the ECB would need to use for its bond purchases would drop, because credibility would be restored. Even if there is further bad news for Europe – from Greece, for example, or from a sharper-than-expected slowdown in China – the eurozone could begin to move out of crisis mode this month.