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It’s been argued since the beginning of the European sovereign debt crisis that the only way to actually solve things would be to create fiscal union via the establishment of euro bonds.Germany has long been opposed to this idea.
The German government no longer rules out agreeing to the issuance of euro zone bonds as a measure of last resort to save the single currency, conservative newspaper Welt am Sonntag reported on Sunday.
Even though Finance Minister Wolfgang Schaeuble and Economy Minister Philipp Roesler again spoke out against euro zone bonds and debt collectivization, Welt am Sonntag reported the German government is nevertheless considering that and other measures.
Could this possibly be true? Most reports have indicated that politicians have all stripes have turned on Angela Merkel for agreeing to the bailouts she already has. Euro bonds would take it to the next level. Odd.