Germany is willing to open up on the issue of Eurobonds, i.e. on the mutualisation of the sovereign debt of the countries of the Eurozone, but only if there is a European "tsar" to supervise the public finances of the 16 euro countries.
He said so Wolfgang Schaeuble, German Finance Minister, in an interview granted to the Wall Street Journal. Berlin, Schaeuble said, could give the green light to some form of debt mutualisation as soon as Germany is fully convinced that progress towards the implementation of a centralized control system of national fiscal policies will be irreversible.
The Stock Exchanges did not react well to the German minister's exit and reversed the trend returning to the red.
