It is believed that when Spain asks the EU for financial assistance, the European Central Bank would then step in to buy Spanish bonds.
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The German press, meanwhile, has been wringing its hands over the European Central Bank's decision to buy Spanish and Italian bonds (see article).
It also said it would buy Spanish bonds as government bond prices in both countries decline due to a sell-off in the default wary sovereign debt markets.
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So, you could buy Spanish bills, paying 5.227%, take them to the ECB, borrow the money at 1% and then go back to the market and do it again and again.
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But, and this is a big but, that argument assumes that investors will continue to be willing to buy Spanish, or Italian, debt, as long as the interest rate is high enough.
Abel Matutes, the foreign minister, says it could damage Chile's fledgling democracy, not to mention Spain's strong economic ties with Chile (not to add, since he didn't, a possible Chilean contract to buy Spanish submarines).
Also the ECB implied that it would buy Spanish and Italian bonds only until eurozone governments have ratified a rescue package for their currency union that was agreed on 21 July, which would allow their bailout fund - the European Financial Stability Facility - to buy the debt of eurozone members facing funding difficulties.
And if market confidence is bashed as much as it may be, there will be a flight away from debt perceived to be riskier - so the European Central Bank will doubtless have to redouble efforts to buy Spanish and Italian government bonds, to prevent the borrowing costs of the Spanish and Italian governments moving back up to dangerous levels.
The European Central Bank (ECB) has said it will buy unlimited Spanish bonds to keep rates and borrowing costs down, in exchange for major structural reforms.
Spanish Banks having been posting Spanish sovereigns as collateral and then taking some of the borrowed money to buy yet more Spanish or other government bonds.
People are very happy to buy into the Spanish or Mediterranean way of life.
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In a European version, cheap, non-recourse loans would encourage investors to buy Italian or Spanish bonds and bring down yields.
Reported intervention by the ECB to buy Italian and Spanish government bonds on Friday helped keep bond yields from rising further.
It explains why Germans at the ECB opposed even the limited interventions by the central bank to buy up troubled Spanish and Italian debts - to the extent that two of the most senior Germans resigned in protest.
And if the ECB said they were prepared to stand by and buy any amount of Spanish and Italian bonds, then we'd raise three cheers.
Caixabank has begun searching for a partner who would buy part of its Spanish credit- and debit- card business, the latest indication of a selling spree by Spanish banks to raise capital.
He intends to buy ads in Cambodian, Spanish and Korean newspapers and already spends evenings buttering up church groups.
At the same time, Spanish banks are massively invested in government bonds and the Spanish government puts pressure on Spanish banks to buy more bonds if funds are available.
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And by encouraging Italian or Spanish banks to buy their governments' bonds, LTRO reinforces the close links between the peripheral economies' sovereign debt and the health of their banks.
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At the end of 2012, the Welsh government confirmed it intended to buy Cardiff Airport from the Spanish-owned Abertis group following a fall in the number of passengers using the airport.
Just before Christmas, the Welsh government confirmed it wanted to buy Cardiff Airport from the Spanish-owned Abertis group after a slump in passenger numbers from a peak of two million in 2007.
The Welsh government announced last month that it intended to buy Cardiff Airport from Abertis, its Spanish owner, in attempt to increase routes and encourage more people through its gates.
The more positive mood among investors stems entirely from Draghi's pledge to buy unlimited amounts of short-term Spanish and Italian debt as part of a bold plan to dispel fears that the eurozone will fall apart.
There is plenty of investment too: Brazil's largest car makers are Fiat and Volkswagen, and Spanish banks have been queuing to buy Latin American ones.
Wales' record as a site of heavy industry was hit when the Cardiff firm Allied Steel and Wire shut with the lost of more 700 jobs, although it is hoped the Spanish steelmaker Celsa will step in and buy out the plant and perhaps reemploy many of the workers.
Spanish officials who once begged for the ECB to buy its bonds now had to think twice, as they considered whether a population already suffering a deep recession was ready for more austerity, and whether those people would vote them into office again.
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