• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Merkel under fire over eurobond stance

Dec 04 2011 15:26 Sapa-AFP

Related Articles

Merkel fights to save euro

Europe shares end lower

Merkel, Cameron differ on euro crisis weapons

Merkel: Finance cleanup will take a decade

Eurozone mulls future without Greece

European shares fall for sixth day

 

Berlin - German Chancellor Angela Merkel's uncompromising stance on Europe's financial crisis faced mounting criticism Saturday as senior political figures urged her to reconsider her rejection of eurobonds.

"One cannot categorically rule out resorting to eurobonds. They could become vital," European Energy Commissioner Guenther Oettinger said in an interview with Die Welt.

In an article entitled "How much longer will Merkel resist the pressure?" the newspaper said Oettinger, who belongs to Merkel's party, was expressing an opinion shared by most in the eurozone.

Merkel has adopted a hard line against the introduction of eurobonds, arguing that Germany -- Europe's largest economy and the state with the lowest borrowing costs -- would pick up the tab if eurozone debt were pooled.

At an economic forum in Hamburg on Friday, former chancellor Helmut Schmidt argued that Merkel's inflexible attitude was a threat to the country.

"With her policies, Merkel has isolated Germany in Europe," said the 92-year-old Schmidt, a respected statesman and fervent pro-European. "It never ends well when Germany is isolated in Europe."

Merkel, whose stance since the start of the crisis has earned her the nickname of "iron chancellor", is due to meet French President Nicolas Sarkozy on Monday.

European leaders will then meet in Brussels on Thursday and Friday in in their latest effort to solve a debt crisis that has pushed several members to the brink of bankruptcy, kept world markets on edge and rattled the foundations of the union.

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

10 most expensive cars In the world

This is car porn at its best!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...