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German, French Leaders Reject Idea Of Issuing ‘Euro Bonds’

August 18, 2011 by  

German, French Leaders Reject Idea Of Issuing ‘Euro Bonds’

On Tuesday, German Chancellor Angela Merkel and French President Nicolas Sarkozy met to discuss the economic crisis facing the euro zone. After the meeting, the two set out joint proposals to strengthen the euro, but stopped short of introducing “euro bonds,” which would allow borrowing on behalf of all 17 of the euro’s member States. According to Bloomberg, the market responded unfavorably, seeking further refuge in United States Treasuries.

“The market was hoping for more,” Jason Rogan, director of U.S. government trading at Guggenheim Partners, LLC, a New York-based brokerage for institutional investors, told the news service. “It’s not that the euro bond is the cure-all for their issues, but the market is telling you it was hoping there would have been more of an urgency to attack the crisis.”

According to the article, adding to investor concerns was a report issued Tuesday showing that European economic growth slowed in the second quarter.

“Merkel and Sarkozy set out joint proposals to strengthen the euro including plans for all euro-area states to demonstrate a ‘verifiable commitment’ to anchoring debt limits in national law and a ‘euro council’ to be headed by European Union President Herman van Rompuy. They rejected expanding the 440 billion-euro ($633 billion) rescue fund,” the news service reported.

“Many key European nations share a common currency, but not a common debt load. That has to change. Now,” read an opinion piece for CNNMoney. “Think about it. The way that the EU currently operates is like a married couple with only two individual bank accounts and no joint account. I guess that could work for awhile. But you’re only asking for trouble in the long run if the finances are kept separate.”

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  • 45caliber

    Well, the European countries have huge debts from issuing so many bonds that they can’t borrow more. Now they want to issue Euro-bonds to borrow even more – expecting countries that have tried to not borrow so much, like Germany, to pay them off. Let’s hope they don’t do it.

    • OB1

      Amen! I think the banksters want control of Germany and France because they think they have the US so they can collapse the free world and do a world currency. That’s why the scare on Wall Street. Frightened people are easier to manipulate.

  • wandamurline

    The tea parties and the Republicans have been ostricized by the liberal news medias for wanting to have a balanced budget amendment … read an article yesterday, where most of the European countries are now stating that they are working on a balance budget amendment …. I guess we are not so stupid as the liberals make us out to be.


    It’s about time some of these countries in europe grew a pair and learned that the good Ol’days are about to change to self reliance and responsibility for past actions. The Germans and the French are finally showing the path to freedom is one of commonsense and conservative government, the very same lesson we are in the throes of learning here and there is going to be pain involved because getting there involves growing up…..

    • Mike in MI

      ONTIME – They will not, because they can not (MOST of them can not) change. They could take a bath in education but it can’t wash off the stuff they need to shed for change to come about. Liberalism has been studied in-depth by researcher out in Oregon at a university. They came to the conclusion that it is a mental defect with its basis in a genetic mutation.
      LIBERALISM IS A MENTAL DISEASE. Abberant human beings,that’s all. kMore than likely they’ll never go away on their own. So I guess, since they almost universaly hate God (oh they may go to some demoninational, doctrinally emancipated from the Truth hollow brick building on the weekend) He’ll have to get rid of the infestation.
      Maybe that’s what Armageddon is all about…do ya think?

      • Mike in MI

        I’m talking about the liberals running the pinko shows in the Euro Union and this country. Sorry not too clear.

  • Simian Pete

    That sure is a good picture of Angela Merkel ! She’s smiling !
    That sure must be a tough job being Chancellor . I read she is a daughter of a pastor, and she has a Doctorate in some branch of Chemistry. So she is a “SMART PK” – right ?


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