Eurozone crisis live: Spain to borrow €4.5bn in key bond auction In the Wall Street Journal this morning Charles Goodhart and Sony Kapoor ask whether the eurozone crisis has turned a corner. No prizes for guessing their conclusion. They write: To emerge once and for all from the euro crisis, three things would be essential: stronger intervention by the ECB to limit possible short-term damage, credible economic growth strategies for crisis-hit countries, and a longer-term plan that provides for macroeconomic adjustment and reforms to the functioning of the euro zone. Europe has one-and-a-half out of three at best. They criticise the ECB's insistence that its bond-buying programme to help bring down the borrowing costs of crisis-hit states comes with conditions, noting that, "a conditional floor is not a wholly credible floor." And they note that the strict conditions imposed in exchange for ECB support could cause the eurozone's biggest problem, as austerity casts a shadow over growth. Their cheery sign-off? Policy makers' inability to remove a eurozone break-up from the realm of possibility, and the absence of any credible growth plans, mean that economic actors will continue to be motivated by fear more than greed or hope. In all likelihood the situation will continue to get worse before it gets better, if it gets better at all.