French President Francois Hollande and German Chancellor Angela Merkel were at odds over the issue of eurobonds at a European Union summit on Wednesday, as concern rose over a possible Greek euro exit.
"Among the proposals I will put on the table will be eurobonds," Hollande said after meeting Spanish Prime Minister Mariano Rajoy.
He said it was unfair for Spain or Italy to pay close to six per cent interest on their 10-year bonds while Germany's yield on two-year debt issuances reached a low of 0.07 per cent on Wednesday.
Read more: France, Germany at odds at EU summit
Showing posts with label Euro Bonds. Show all posts
Showing posts with label Euro Bonds. Show all posts
5/21/12
France says 'oui' to euro bonds, but Germany says 'nein'
A German official made clear on Monday that Berlin continues to oppose the idea of jointly-issued bonds for the 17-nation eurozone, which France's new president had suggested could be used to create much-needed economic growth and ease the region's financial crisis.
At the weekend's Group of Eight summit, German Chancellor Angela Merkel joined French President Francois Hollande and U.S. President Barack Obama in signing on to a statement that called for adding growth-promoting measures to painful cutbacks to fight the eurozone crisis.
How exactly to do that has become a topic of heated debate among European leaders, who will meet Wednesday in Brussels to try to find common ground. Hollande has pushed for issuing debt backed by financially strong countries like Germany to finance growth in weaker countries like Greece or Portugal.
For more: France says 'oui' to euro bonds, but Germany says 'nein' - CSMonitor.com
At the weekend's Group of Eight summit, German Chancellor Angela Merkel joined French President Francois Hollande and U.S. President Barack Obama in signing on to a statement that called for adding growth-promoting measures to painful cutbacks to fight the eurozone crisis.
How exactly to do that has become a topic of heated debate among European leaders, who will meet Wednesday in Brussels to try to find common ground. Hollande has pushed for issuing debt backed by financially strong countries like Germany to finance growth in weaker countries like Greece or Portugal.
For more: France says 'oui' to euro bonds, but Germany says 'nein' - CSMonitor.com
8/16/11
Eurobonds debate overshadows Franco-German summit today
France and Germany's leaders face a stark choice in talks today (16 August) over whether to steer the embattled euro zone towards closer monetary union or risk watching the bloc unravel.
French President Nicolas Sarkozy and German Chancellor Angela Merkel are meeting in Paris to discuss what further measures they can take to contain Europe's debt crisis, which is now spreading to the continent's core.
Italy has been forced to ramp up its austerity measures and financial market jitters hit France last week, with French banks' shares subject to panic selling on rumours that the country could be next to lose its prized AAA debt rating.
Many experts say the only way to ensure affordable financing for the bloc's most financially distressed countries would be for the euro area to issue joint eurobonds – although officials in Paris and Berlin said Tuesday's talks would not address that possibility.
Although the German government has long opposed the idea, support is beginning to emerge, with the country's export association saying on Monday that eurobonds may be the only solution to prevent the markets from launching new assaults on eurozone members.
For more: Eurobonds debate overshadows Franco-German summit | EurActiv
French President Nicolas Sarkozy and German Chancellor Angela Merkel are meeting in Paris to discuss what further measures they can take to contain Europe's debt crisis, which is now spreading to the continent's core.
Italy has been forced to ramp up its austerity measures and financial market jitters hit France last week, with French banks' shares subject to panic selling on rumours that the country could be next to lose its prized AAA debt rating.
Many experts say the only way to ensure affordable financing for the bloc's most financially distressed countries would be for the euro area to issue joint eurobonds – although officials in Paris and Berlin said Tuesday's talks would not address that possibility.
Although the German government has long opposed the idea, support is beginning to emerge, with the country's export association saying on Monday that eurobonds may be the only solution to prevent the markets from launching new assaults on eurozone members.
For more: Eurobonds debate overshadows Franco-German summit | EurActiv
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