Terms for issuance of single European bonds called

Baku, Fineko/ President of European Commission Jose Manuel Barossa has called approximate terms for issuance of  single European bonds.

In his annual appeal to Euro Parliament J. Barossa has stated that as soon as unity and budget discipline are regained in Euro zone the Monetary union can pass to the next integration stage – issuance of single euro bonds or "stability bonds". " European Commission will submit such draft instruments in the nearest weeks ",- J. Barossa said.

He also noted that European Union is suffering trust crisis " that we have not  come across for decades". In his opinion now member-countries of Eurozone should more than ever  before seek for deeper economic integration and cut short any attempts to shake the Monetary unit.

" Greece which is currently the weakest block unit will not leave Eurozone and fulfill all its obligations on stabilization of state finances ",- J. Barossa added.

Yesterday German chancellor Angela Merkel stated that the consent for issuance of single euro bonds will reduce Germany’s rating from AAA  to CCC. In turn Standard & Poor’s said that it will reduce the rating of all Eurozone countries if they increase charges to European Fund of financial stability as it will call in question their individual credit capacity.


28.09.2011 14:42


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