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These joint bonds would not require intrusive federal fiscal oversight.
A coherent banking union makes sense, as do some joint bonds.
But joint bonds are unthinkable for Mrs Merkel, at least this side of the German election in 2013.
One useful means of allaying the panic might be for euro-zone countries to issue part of their debt as joint bonds.
Mr. Kampeter called the joint bonds "a prescription at the wrong time with the wrong side effects," in an interview with German public radio.
Rather than issuing new national government bonds, everybody, from Germany (debt: 81% of GDP) to Italy (120%) would issue only these joint bonds until their national debts fell to the 60% threshold.
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It is not yet clear just how ambitious Mr. Hollande's plans for joint bond issuance are.
That meant the Goldman/Citigroup joint bond package, called GC4, would no longer be rated as planned.
Nor was a demand, made last month, by presiding magistrate José Castro that he post a joint bond of €8.1m.
Juan Carlos's nightmare week starts in Palma de Mallorca, when Urdangarin must appear before an investigating magistrate who has demanded that he and Torres post a joint bond of €8.1m (£7m).
It could act as a permanent monitor of economic policies, including government budgets, and issue a seal of approval for countries wishing to take part in a joint bond issue.
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