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Bruederle Calls Euro Bonds ‘Interest Rate Socialism,’ Welt Says

The euro area bonds proposed by French President Francois Hollande would be “interest rate socialism” that would saddle Germany with high costs, Die Welt reported, citing Rainer Bruederle, deputy chairman of the Free Democratic Party.

“Euro bonds are interest-rate socialism for which Germany and other successful countries will have to pay dearly,” the newspaper quoted him as saying in an interview. It would be far better for young French and Spanish people to move to Germany for job training, he said.

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