Merkel Facing Campaign Asserts Euro Control Snubbing Joint Bonds
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German Chancellor Angela Merkel reasserted control over the future shape of the euro zone, rebuffing a French-led bid for the setup of a joint treasury with independent borrowing powers.
Merkel blunted French President Francois Hollande’s appeal for more transfer payments from rich to poor countries along with common euro-area bond sales, demanding that a future central budget be confined to projects like job training.