"the Gospel is God acting in history"
"It was the Protestant Reformers who helped the Christian church see again the importance of the historical and natural meaning of Scripture, so that the Old Testament could be regarded as having value in itself. When the Reformers recovered the authority of the Bible, they not only reaffirmed a biblical doctrine of the church and salvation, but also a biblical doctrine of Scripture. Protestant interpretation was based upon the concept of the perspicuous (clear and self-interpreting) nature of the Bible. By removing an authority for interpretation from outside the Bible, the infallible church, the Reformers were free to accept and see the principles of interpretation that are contained within the Bible itself.
"So the self-interpreting Scriptures became the sole rule of faith-Sola Scriptura was a rallying cry of the Reformation. The right of interpretation was restored to every believer, but this did not mean that the principles of interpretation found within the Bible could be overlooked and every Christian follow his own whim. The allegorical method became far less popular, because the historical meaning of the Old Testament was found to be significant on its own, within the unity of the Bible.
"...What did this have to do with the Old Testament? It meant that the Reformers were establishing a method of biblical interpretation in which the natural historical sense of the Old Testament has significance for Christians because of its organic relationship to Christ. God’s grace, seen in his dealings with Israel, is part of a living process which comes to its climax in his work of grace, the gospel, that is in the historical events of the Christ who is Jesus of Nazareth. Just as it is important to assert that this Old Testament salvation history must be interpreted by the Word, Jesus Christ, it is also important to recognize that the gospel is God acting in history-more specifically, through the history of Jesus." -- Graeme Goldsworthy