Well, this seems to be the line she’s holding. According to Reuters, there will be no Eurobonds any time soon:
(Reuters) – Germany’s Angela Merkel was quoted as telling a meeting of one of the parties in her coalition on Tuesday that Europe would not have shared total debt liability “as long as I live”.
The chancellor said there would be no shared liability of debt in Germany either – after her government agreed plans with federal states to issue joint “Deutschland bonds” – in comments reported by participants in a meeting with the Free Democrats (FDP), junior partners in her centre-right coalition.
So expect more indecisiveness, more uncertainty, more depression and more trying to make Europe fit in a currency union that is unworkable as is.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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