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Tired of Being Fleeced: Germany rules out common euro bonds
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Mal
May 23, 2012, 1:35:28 AM5/23/12
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François Hollande, France’s new president, has strongly backed common
eurozone bonds – which would ease funding constraints for the
eurozone’s stressed periphery but potentially raise German borrowing
costs by diluting its creditworthiness across the currency union.
German officials made clear the idea was a non-starter in Berlin.
“There is no way of introducing them under the current [EU] treaties.
Indeed, there is an explicit ban on them,” one senior German official
said, adding Berlin would not drop its opposition in the foreseeable
future. “That’s a firm conviction which will not change in June.”
http://www.ft.com/cms/s/0/5abc14ba-a42e-11e1-a701-00144feabdc0.html#ixzz1vfU5Eyyk
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Good for Germany.
eurozone bonds – which would ease funding constraints for the
eurozone’s stressed periphery but potentially raise German borrowing
costs by diluting its creditworthiness across the currency union.
German officials made clear the idea was a non-starter in Berlin.
“There is no way of introducing them under the current [EU] treaties.
Indeed, there is an explicit ban on them,” one senior German official
said, adding Berlin would not drop its opposition in the foreseeable
future. “That’s a firm conviction which will not change in June.”
http://www.ft.com/cms/s/0/5abc14ba-a42e-11e1-a701-00144feabdc0.html#ixzz1vfU5Eyyk
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Good for Germany.
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