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Austria’s Faymann Rejects Euro Bonds, Echoing Merkel Criticism

Austrian Chancellor Werner Faymann joined Germany and France in rejecting common euro-area bonds and said a centralized economic government for the region is unrealistic because it would require a treaty change.

“This is a mere theoretical debate,” Faymann said, referring to both euro bonds and an “economic government,” according to a statement by the chancellery following the first government meeting in Vienna after the summer recess. “If you know how difficult it is to change the European Union treaty, given we have 44 political parties in the governments, you also know that this isn’t practical,” he added.