Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

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.”

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Facebook Conversations

Join the Discussion:
View Comments to “German, French Leaders Reject Idea Of Issuing ‘Euro Bonds’”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.