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by ForexNewsNow Team on August 22, 2011

Euro Bonds: Angela Merkel Repeats Her Refusal

NEW YORK (ForexNewsNow) – No means no! In a television interview on Sunday German Chancellor Angela Merkel has once again objected to Euro Bonds, which, she believes, would only widen the debt of the 17 members of the Euro currency bloc.

 

According to the German Chancellor, the creation of the Euro bond would be “exactly the wrong route to take, because they would lead to a Union of the debt rather than bringing more stability ” to the Euro Zone. However, Merkel did leave the door for a possible change in policy in the future, admitting that perhaps “in the distant future we will need to adapt” to changes in the financial markets.

 

The German Minister of Economy, Philip Rösler, from the Liberal Party (FDP), also reaffirmed his opposition to Euro bonds, announcing, “There will be no Euro bond created under my government.” The German Economic Minister was quoted by a German newspaper on Sunday as saying that “the Euro bonds are a poor signal sent to failing national economies.”

 

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