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Detailed text transcripts for TV channel - MSNBC - 20120727:08:32:00

draghi: yields disrupting policy transmission are in ecb remit. this is a sentence, one sentence, or a fragment, that caused a huge stock market rally. it s a sentence that could mean the eurozone is going to survive, and it is a sentence that when i first saw it, i understood three words draghi, are and in. but i understand it now, and in two minutes, you re going to understand it, too. all right, do we have a clock? okay, go. let s begin at the beginning here. draghi is mario draghi, it s a guy who runs the european central bank. he s europe s ben bernanke. and as much as the crisis there is anybody s fault, it is his fault and that of his predecessors. they are the ones who control how much money is available. now, the simplest way to understand the euro crisis is that greece and spain and italy and portugal and ireland are having trouble borrowing money. if they can t borrow money, they collapse. if they collapse, the eurozone

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