Oct. 17 (Bloomberg) -- Former European Competition Commissioner Mario Monti said Germany must be convinced that joint euro bonds would be a better source of funding than debt purchases by the European Central Bank.
“We need to convince Germany that euro bonds are a better option than having member states increase their funding of the ECB so that it can afford to buy more and more bonds of all countries in difficulty,” Monti said in a speech in Rome today.
Referring to Europe’s rescue fund, the European Financial Stability Facility, he also said that there may not be enough “ammunition” to deal with Italy or Spain should either fall victim to Europe’s debt crisis.
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