On the Nature of Assent Owed to Vatican II Teachings

Just written and published by Monsignor Fernando Ocáriz Braña, Vicar General of Holy Cross and Opus Dei, and Vatican representative in the doctrinal talks with the SSPX. It's sufficiently vague to keep the trad world guessing:

Not only should the Second Vatican Council be interpreted in the light of previous Magisterial documents, but also some of these earlier magisterial documents can be understood better in the light of the Second Vatican Council....

These are innovations in the sense that they explain new aspects which have not previously been formulated by the Magisterium, but which do not doctrinally contradict previous Magisterial documents. This is so even though, in certain cases — for example, concerning religious freedom — these innovations imply very different consequences at the level of historical decisions concerning juridical and political applications of the teaching, especially given the changes in historical and social conditions. An authentic interpretation of Conciliar texts can only be made by the Magisterium of the Church herself. Therefore, in the theological work of the interpretation of passages in the Conciliar texts which arouse queries or seem to present difficulties, it is above all necessary to take into account the sense in which they have been interpreted in subsequent Magisterial interventions. Nevertheless, there remains space for legitimate theological freedom to explain in one way or in another how certain formulations present in the Conciliar texts do not contradict the Tradition and, therefore, to explain the correct meaning of some expressions contained in those passages.

Rorate Caeli has the whole thing.