FINANCIAL NEWS Monday, 1 February 2010 - 14:31 |
Papaconstantinou Notes Eurobond Idea Lacks Support |
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The idea of issuing a common Eurobond is an interesting one but seems to lack support, Greece’s Finance Minister George Papaconstantinou told Japan’s business daily “Nikkei.”
"It is not something Greece has proposed, but it is an interesting proposal," Papaconstantinou argued. "It is difficult amid a crisis. At this point, it does not have widespread support within the euro zone," he added. Last week European Parliament Socialist group leader Martin Schulz had called on the commission to bring forward urgent proposals for the launch of Eurobonds in order to deal with the Greek situation. Still, Reuters notes that earlier this month, European Central Bank Executive Board member Juergen Stark had dismissed such an idea since with this instrument “responsible countries would be punished.” |
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