Euro zone sees signs of a crisis in retreat

Spain and Ireland made gains at the bond markets this week, as the ECB holds rates steady. Photos: Protesters across the euro zone find creative ways to make their voices heard.

Successful bond auctions in Spain and Ireland this week marked a further defusing of the euro zone's financial crisis, with Spanish borrowing rates dipping below five percent and Ireland steadily regaining trust among investors.

The decline in borrowing costs, even in a nation such as Ireland, which remains under an international bailout program, was cited Thursday by European Central Bank President Mario Draghi as one of a growing set of statistics that indicate a calming of euro-zone tensions.