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Merkel, Sarkozy refuse to issue euro zone bonds

08-17-2011 13:56 BJT

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Many have been expecting the introduction of the euro zone bonds. But German and French leaders said NO to this at Tuesday's meeting. Experts warn the Euro zone could face the risk of falling apart if its debt crisis continues to worsen.

There have been growing calls for euro bonds as a way to stop speculative attacks on the bond markets of high-debt nations. But German politicians and economists believe euro bonds could sharply increase German borrowing costs by forcing Berlin to pay a higher interest rate on its debt than it does at present.

France's President Nicolas Sarkozy (R) and German Chancellor Angela Merkel attend a joint press conference at the Elysee presidential palace in Paris, France, Aug. 16, 2011.  (Xinhua/Gao Jing)

Second-quarter figures show the previously robust expansion in Germany and France almost ground to a halt. Experts say the sagging growth prospects in Europe as a whole can further complicate the debt crisis.

German Chancellor Angela Merkel leaves after a statement to the media in Berlin, July 23, 2011. REUTERS/Tobias Schwarz

 

Editor:Li Wanran |Source: CNTV.CN

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