Germany and France reject eurobond plan

Both Germany and France have ruled out common eurozone bonds as a solution to the bloc's debt crisis, the FT has reported.

German Chancellor Angela Merkel and French president Nicholas Sarkozy are set to meet in Paris tomorrow to discuss potential solutions to the crisis. But German finance minister Wolfgang Schäuble told Der Spiegel that Berlin has eliminated the policy as an option. "I rule out eurobonds for as long as member states conduct their own financial policies and we need different rates of interest in order that there are possible incentives and sanctions to enforce fiscal solidity," said Schauble. According to the FT, senior French officials said it was unlikely a concrete announcement on ...