This is from a diary of mine on the topic:

There's only one provision of the proposed New Article 135 (in Spanish) which will have immediate effect:

Los créditos para satisfacer los intereses y el capital de la deuda pública de las Administraciones se entenderán siempre incluidos en el estado de gastos de sus presupuestos y su pago gozará de prioridad absoluta. Estos créditos no podrán ser objeto de enmienda o modificación, mientras se ajusten a las condiciones de la Ley de emisión.

Credits to service interest and principal on the public debt of the various Administrations will be understood to be part of the expense account of their budgets, and their payment will have absolute priority. These credits won't be subject to amendment or modification, as long as they keep to the conditions of the law by which they were issued.

Update [2011-8-30 3:59:57 by Migeru]: The emphasised text is what's being added by the amendment.

On top of this, the Socialis presidential candidate came out and tried to sell this to the public with the argument that it was "a pro-European reform". As if we're stupid.

To err is of course human. But to mess things up spectacularly, we need an elite — Yanis Varoufakis

You seem to confuse the political process and the right's use of it to arrogate legitimacy of its entrenched power with the actual obtention of power itself.

I would suggest this undermines your analysis completely.

I would be ashamed to admit that I had risen from the ranks. When I rise it will be with the ranks, and not from them Eugene Debs