Slovak Prime Minister Robert Fico said the introduction of joint bonds by countries that share the euro as a tool to combat the debt crisis seems to be “no longer on the agenda.”
Fico’s view follows the outcome of a meeting by European Union leaders two days ago, he said today in a speech at an annual meeting of the Slovak Employers’ Association in the capital Bratislava. He also said it’s unlikely that the 27- nation EU will introduce a transaction tax.
The 18th summit in more than two years of crisis fighting was marked by new French President Francois Hollande’s challenge to the German-dominated deficit-cutting orthodoxy that has failed to stabilize the euro area and led to speculation that Greece might be forced out. The leaders also clashed over joint debt issuance, which was opposed by Germany.
Fico, who returned to the premiership in April after 22 months in opposition, also said he is “disappointed” with the results of the summit, adding the leaders seem to prefer national interests over finding a joint solution to end the crisis.
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