Merkel Says Joint Euro-Area Bonds Aren’t Crisis Solution
February 07, 2012, 5:25 PM ESTBy Tony Czuczka
Feb. 7 (Bloomberg) -- German Chancellor Angela Merkel said joint euro-area bonds would paper over lagging competitiveness in some countries that she cited among the root causes of the region’s debt crisis.
While financial markets might welcome joint debt issuance, they would threaten prosperity, Merkel said in response to questions from students after a policy speech in Berlin today.
“My belief is that we have to take our cue from the best in Europe,” she said. “Mediocrity isn’t enough” to compete in the global economy.
To contact the editor responsible for this story: Tony Czuczka at aczuczka@bloomberg.net
