Mr. Barroso will present proposals this week for the issuing of collective bonds, so-called "stability bonds," which could involve limited national guarantees.
There might even have been a rearguard action by a fundamentalist left against the dispossession of a working class which, although it appeared to have little, had nevertheless forged bonds of solidarity and collective resistance, a defensive culture of humanity.
He pointed to an increase in the firewall and in economic responsibility and said that the idea of collective bonds was not dead, despite continuing German and French opposition.
Instead, it has objected to every suggestion to create a form of collective bond or to use the European Central Bank as a lender of last resort.
Most significant, perhaps, he called for the creation of collective euro bonds, but to be used to finance industrial infrastructure projects, not to consolidate debt, which the Germans oppose.
Photo courtesy of Bond Collective.
In this instance, these bonds have proved stronger than other forms of collective identity such as religious/denominational expectations or professional/academic position.
Finally, some people become fully-fledged members of a thought collective of a scientific discipline specialists: "the expert is already a specially molded individual who can no longer escape the bonds of tradition and of the collective; otherwise he would not be an expert" (1935a, III).
See articleJean-Claude Juncker, head of the eurogroup of finance ministers, and Giulio Tremonti, Italy's finance minister, called for the creation of collective euro area "E-bonds" to help relieve pressure on indebted countries.
