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For Euro Zone, It’s Euro Bonds or Else

12 Julho, 2011 at 3:34 pm Deixe um comentário

Markets in Europe are being hit hard by fears that the debt crisis will spread to Italy, which is regarded as too big to rescue. German media commentators say the time has come to stop the piecemeal bailout efforts and to make the member states share liability for their debt — via euro bonds.

European markets and the euro are falling on worries that the euro crisis is about to engulf Italy and Spain, which analysts regard as too big to rescue. To make matters worse, the euro-zone finance ministers failed at their meeting on Monday to agree on a second bailout package for Greece. […]

German media commentators say the pressure on Italy, the euro zone’s third-largest economy which has strong economic fundamentals despite its high debt-to-GDP ratio, shows that investors have no faith in the EU’s crisis management.

The bailout efforts taken over the past 18 months have been piecemeal and achieved little more than buy time, they argue, adding that a fundamental reform of the euro zone’s financial architecture is required: Member states may have to assume common liability for public debt in the 17-nation euro area via the introduction of so-called euro bonds — a taboo until now because it enshrines the principle that strong euro-zone economies assume liability for the debts of the weaker ones.

(Spiegel online)

(via Spiegel online – clicar na imagem para ampliar)

Entry filed under: Economia e Gestão, Sociedade.