FRANKFURT — Chancellor Angela Merkel of Germany on Sunday re-emphasized her opposition to issuing bonds backed by all the euro zone countries, a position that will be greeted enthusiastically by many of her fellow citizens but could unsettle investors at the beginning of what could be another difficult week in global financial markets. Mrs. Merkel told ZDF television in an interview broadcast Sunday that the so-called euro bonds would be an option only in the distant future. “It will not be possible to solve the current crisis with euro bonds,” she said. She added that “politicians can’t and won’t simply run after the markets.” “The markets want to force us to do certain things,” she added. “That we won’t do. Politicians have to make sure that we’re unassailable, that we can make policy for the people.” The German finance minister, Wolfgang Schäuble, echoed Mrs. Merkel’s comments, saying that common debt would make it easier for governments to avoid pursuing responsible fiscal policies. In any case, he told the newspaper Welt am Sonntag, it would take too long for countries in the euro zone to amend the treaty on monetary union, which would probably be required to allow the issuance of such bonds. “We have to solve the crisis within the existing treaty,” Mr. Schäuble said. The statements by the German leaders are in tune with public opinion in Germany as well as in other countries, like the Netherlands. The Dutch finance minister, Jan Kees de Jager, told the magazine Der Spiegel in an interview published Sunday that Mrs. Merkel should remain firm in her opposition to euro bonds.
Access Investments-Building Awareness - European Union-ROMANIA
Monday, August 22, 2011
FRANKFURT — Chancellor Angela Merkel of Germany on Sunday re-emphasized her opposition to issuing bonds backed by all the euro zone countries, a position that will be greeted enthusiastically by many of her fellow citizens but could unsettle investors at the beginning of what could be another difficult week in global financial markets. Mrs. Merkel told ZDF television in an interview broadcast Sunday that the so-called euro bonds would be an option only in the distant future. “It will not be possible to solve the current crisis with euro bonds,” she said. She added that “politicians can’t and won’t simply run after the markets.” “The markets want to force us to do certain things,” she added. “That we won’t do. Politicians have to make sure that we’re unassailable, that we can make policy for the people.” The German finance minister, Wolfgang Schäuble, echoed Mrs. Merkel’s comments, saying that common debt would make it easier for governments to avoid pursuing responsible fiscal policies. In any case, he told the newspaper Welt am Sonntag, it would take too long for countries in the euro zone to amend the treaty on monetary union, which would probably be required to allow the issuance of such bonds. “We have to solve the crisis within the existing treaty,” Mr. Schäuble said. The statements by the German leaders are in tune with public opinion in Germany as well as in other countries, like the Netherlands. The Dutch finance minister, Jan Kees de Jager, told the magazine Der Spiegel in an interview published Sunday that Mrs. Merkel should remain firm in her opposition to euro bonds.
Subscribe to:
Post Comments (Atom)
1 comment:
Benelux Joint Statement on Lybia
The Benelux is pleased to see that the Libyan people, after 42 years of dictatorship, are so close to realising their aspirations for a free and democratic Libya. Their determination and persistence have culminated in the defeat of the Gaddafi regime. Gaddafi must step down immediately to avoid further bloodshed and to make way for a new Libya. Those who have committed crimes against humanity should answer for their actions before the International Criminal Court. We therefore welcome the arrest of Saif al-Islam Gaddafi.
The NTC and all opposition forces should now assume their responsibilities and ensure the protection of all Libyans, while fully respecting human rights and humanitarian law. A rapid stabilization of the country is necessary, so democratic reforms, rule of law and economic reconstruction can be launched.
We believe that the international community and especially the UN should play a central role in ensuring a smooth and peaceful transition. For its part, the Benelux, bilaterally and within the EU as well as the UN, is committed to support Libya, in every way necessary, based on the concrete needs of the Libyan people. Benelux countries will continue their close cooperation within the International Contact Group on Libya, and look forward to a meeting of that Group at the earliest possible moment.
Once again, the Benelux countries salute the courage of the Libyans who have fought and are still fighting for their freedom. It is they who made this victory possible. We hope that they will soon take their first steps on the road to a new democratic Libya, a Libya that guarantees the freedom of all Libyans, based on respect for human rights and the rule of law.
Post a Comment