Germany's Schaeuble Insists Timing Not Right for Euro Area Bonds

  • Finance Minister cites differences in economic performances
  • `I've never said never,' finance chief tells panel in Berlin

German Finance Minister Wolfgang Schaeuble reiterated his opposition to pooling debt in the 19-nation euro bloc and issuing joint bonds while member countries continue to differ dramatically in their economic performance.

“I’ve never said never” to the common euro bonds, Schaeuble said Wednesday on a panel organized by the Freiburg-based CEP research institute in Berlin. “Of course we can do this some time when we have joint decision-making, just not now.”

Schaeuble also warned central bankers against creating “moral hazard” by pursuing policy decisions that discourage governments from carrying out economic reforms.

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