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[German Chancellor] Angela Merkel rules out eurobonds for 'as long as I live'
The Telegraph ^ | 6/26/2012 | Szu Ping Chan

Posted on 06/26/2012 1:27:10 PM PDT by bruinbirdman

Angela Merkel has firmly rejected the use of eurobonds ahead of a crucial summit in Brussels this week, ruling out jointly guaranteed eurozone debt for "as long as I live".

The German Chancellor's comments were met with applause as she briefed MPs from the Free Democrats party, her junior coalition partner, at an assembly meeting on Tuesday.

One official told AP that the crowd "reacted with applause to hearing that the Chancellor does not want a joint debt liability," while one participant reportedly shouted: "We wish you a long life!"

Several eurozone leaders, including French President Francois Hollande and Italian Prime Minister Mario Monti have called for the 17-nation bloc to draw-up plans to issue jointly-guaranteed debt in order to reduce borrowing costs for struggling eurozone nations.

Yields on benchmark 10-year government debt are currently at 6.8pc in Spain, and 6.15pc in Italy. Long term borrowing costs above 6pc are widely viewed as unsustainable in the long term.

Ms Merkel this week played down expectations of a major shift in policy from Germany at the EU summit, which starts on Thursday, and repeated that eurozone bonds would be "economically wrong and . . . .

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS: angelamerkel; eubonds; eucrisis

1 posted on 06/26/2012 1:27:11 PM PDT by bruinbirdman
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To: bruinbirdman

It’s funny how so many in the Euro-zone who are almost in as bad a shape as Greece and Spain, want the countries who aren’t as bad off to guarantee debt.


2 posted on 06/26/2012 1:29:53 PM PDT by Venturer
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To: bruinbirdman

Thatcher II?


3 posted on 06/26/2012 1:30:52 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: cuban leaf

Not quite, Thatcher was an ally. No German could ever be compared to Thatcher.


4 posted on 06/26/2012 1:35:20 PM PDT by wolfman23601
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To: bruinbirdman
"Several eurozone leaders...have called for...jointly-guaranteed debt in order to reduce borrowing costs for struggling eurozone nations."

I'll bet.

And why are these eurozone nations struggling?????

The Germans would be nuts to guarantee their debt. It would be like countersigning loans for a bunch of worthless in-laws--or giving them signed blank checks.

5 posted on 06/26/2012 1:47:19 PM PDT by Savage Beast (History is not just cruel. It's witty. --Charles Krauthammer)
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To: bruinbirdman
"Several eurozone leaders...have called for...jointly-guaranteed debt in order to reduce borrowing costs for struggling eurozone nations."

I'll bet.

And why are these eurozone nations struggling?????

The Germans would be nuts to guarantee their debt. It would be like countersigning loans for a bunch of worthless in-laws--or giving them signed blank checks.

6 posted on 06/26/2012 1:47:19 PM PDT by Savage Beast (History is not just cruel. It's witty. --Charles Krauthammer)
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To: bruinbirdman

7 posted on 06/26/2012 1:55:19 PM PDT by QT3.14 (A Nation of Sheep Breeds a Government of Wolves!)
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To: bruinbirdman

Long live Angela Merkel...the only one with brass ones. Good for her!


8 posted on 06/26/2012 1:59:04 PM PDT by SueRae (The Tower of Sauron falls on 11.06.2012)
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To: bruinbirdman
Merkel vs. Soros. Hmmmmmmmmm. Wonder who will win. On a side note, I can't wait for Soros to attain room temperature.
9 posted on 06/26/2012 1:59:35 PM PDT by jdsteel (Give me freedom, not more government.)
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To: bruinbirdman
Well, good for her. I hope she means it. I mean, it would be ludicrous for Germany to accept the idea of Euro-bonds; but, then, they did give up the Deutschmark, so you never can be sure.
10 posted on 06/26/2012 2:01:18 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: QT3.14

yitbos

11 posted on 06/26/2012 2:03:00 PM PDT by bruinbirdman ("Those who control language control minds." -- Ayn Rand)
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To: Venturer
It’s funny how so many in the Euro-zone who are almost in as bad a shape as Greece and Spain, want the countries who aren’t as bad off to guarantee debt.

And that same mind set here in America is now calling for aggressive attacks against the Tea Party (Maxine Waters and Cher).

12 posted on 06/26/2012 3:02:36 PM PDT by justa-hairyape
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To: BfloGuy
Germans only gave up the Deutsche-mark because of the ridiculous fear mongering that the newly reunified Germany would revert back to the aggressive bullying like it was with the Nazis. So with the Euro they made nice to France and Europe.

So over a decade later of them bailing out the rest of Europe and giving them tons of money, the Germans are tired of being held hostage to Greek and Spanish debt and mea culping over WWII. I say, good for them.

13 posted on 06/26/2012 3:08:37 PM PDT by Shadow44
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To: bruinbirdman

Good for her. Why the hell should Germany, a responsible nation, bail out the dead beats? The entire Eurozone should be dismantled.


14 posted on 06/26/2012 3:27:28 PM PDT by SoFloFreeper
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