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Stark Says Nations Must Vouch for Debt, MNI Cites German Paper

European Central Bank Executive Board Member Juergen Stark said every euro member country must vouch for their own debt, Market News International reported, citing an interview in the Sueddeutsche Zeitung.

The comment was in response to whether Stark was in favor of a proposed common euro-zone bond, according to the report from the German newspaper. Stark said the trading bloc is not on its way to becoming a transfer union and is not in danger of a currency crisis, the report said.

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