Economy

xchrom

(108,903 posts)

32. Germany restates opposition to eurobonds

Mon May 21, 2012, 08:08 AM

May 2012

http://www.bbc.co.uk/news/business-18143691

Germany has again stated its opposition to so-called eurobonds as the new French finance minister prepares to meet his German counterpart for the first time.

Pierre Moscovici will meet German Finance Minister Wolfgang Schaeuble in Berlin and is expected to press for measures that would boost growth.

Eurobonds are a proposal to issue debt on behalf of all 17 euro countries.

But a German minister said they would be "a prescription at the wrong time".

"We have always said that as a first step we need solidity in European finances, and that is the fiscal compact," said Steffen Kampeter, a deputy finance minister, referring to the budget pact that 25 out of 27 European Union countries agreed to abide.

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