According to Angela Merkel, in this strange autumn-winter it is "fashionable" to talk about Eurobonds. And yet, the German chancellor points out, the much-discussed bonds guaranteed by the entire Eurozone would not be the solution to the crisis.
What you need instead are "political solutions“: debt reduction interventions at national level and account consolidation and at European level. And then, of course, those "rapid" treaty changes that Germany has always been craving. “The ECB – Merkel concluded – does not have the option of saving the euro by itself”.
