Some mixed reports this morning are suggesting that Germany may be willing to back a huge European bailout fund.The news was first reported by newspaper Suddeutsche Zeitung. According to Reuters, the article makes it sound like Germany would back such a fund. However, WSJ suggests this is just a “working paper” that’s being discussed and not actual any real policy.
Anyway, this is going to have to be solved in 2011 because the status quo of local governments being totally on the hook for their own debt isn’t working. Some kind of Euro-wide funds, with euro-wide bonds has got to be on the table.
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