France Wants Eurobond, Germany Says No…


French President Hollande, who said he is not alone in support of creation of euro zone bonds. A more formal proposal for underwriting state debt would be unveiled at the upcoming informal EU summit this Wednesday.

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Germany Government spokesperson reiterates that its position on Euro Bonds had not changed and still opposed to concept as it was not the medium for resolving crisis.

What does this mean?

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The sparring between France and Germany has begun.  With French President Hollande at the helms, we may see more uncertainty developing in Europe in addition to the Greek Saga.  However, in all fairness, Eurobond may very well help to lessen the crisis as Europe as a whole is much better than Greece, Italy, Portugal, or Spain on its own… but the long-term implications of a combined European Bond will add unnecessary pressure to Germany, and if Germany were to leave the EU, then there is no reason for the Eurobond.

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