It’s been darkly amusing watching European leaders continue to increase the size of their “bazooka” over the past two years, only to see the markets return fire, and render it useless.

The solution: The ECB needs to declare an interest rate cap for various countries, and tell the market that if X-country’s bonds hit X-rate it will intervene.
Read more: http://www.businessinsider.com/europes-big-cheap-bazooka-credible-ecb-interest-rate-ceilings-2011-11#ixzz1dXlnDBkL