Germany and France rule out eurobonds

Author (Person)
Series Title
Series Details 15.8.11
Publication Date 15/08/2011
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Preview feature before a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy, Paris, 16 August 2011 to discuss the eurozone financial crisis.

Preview FT article reported that Germany and France were ruling out common eurozone bonds to solve the eurozone's debt crisis, in spite of renewed pressure from other European leaders and commentators.

The German government was adamant that eurobonds – jointly issued by members of the eurozone currency area to help the most debt-strapped governments – were not on its agenda. Yet however much Angela Merkel, German chancellor, and her advisers insisted that the issue was not for debate, the issue would not go away.

Preview EUObserver article reported that despite the intense scrutiny and pressure from the markets, it was unclear what major initiatives the two leaders could agree, with the Chancellor facing a German parliament already rebellious about the second bailout for Greece agreed at a eurozone summit on the 21 July 2011.

Ms Merkel and Mr Sarkozy were expected to reiterate the need for greater fiscal and economic co-operation before any European bond could be considered.

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Spiegel Online International, 23.8.11: 'Euro Bonds Would Destroy the Euro',1518,781702,00.html
Deutsche Welle, 14.8.11: Finance minister calls for European solidarity to tackle debt crisis,,15315227,00.html
Spiegel Online International, 15.8.11: SPIEGEL Interview with George Soros 'You Need This Dirty Word, Euro Bonds',1518,780189,00.html
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EurActiv, 16.8.11: Eurobonds debate overshadows Franco-German summit
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Spiegel Online International, 22.8.11: Merkel Renews Euro Bond Rejection,1518,781566,00.html
EurActiv, 19.8.11: Bankers, economists see eurobonds as inevitable: Poll
ECFR: Blog, 19.8.11: Germany in Europe: Rebuilding European democracy

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