But before pooling liabilities Germany wants to pool control of economic policies.
But any lasting stability for the euro must lie with governments, particularly in the degree to which they are willing to give up fiscal sovereignty in return for pooling liabilities.
Much of the eurozone is keen on pooling liability, but not on giving up sovereignty, Merkel is fond of complaining.
Mrs. Davis calls the pool a liability.
Creditor states later had to force private bondholders to take losses on Greek debt, and are now surreptitiously writing off official debt.The Finns, the Dutch and the Germans want to shift the euro zone away from the idea of greater pooling of liabilities, advocated by Euro-federalists.
Carsten Brzeski, a senior economist at ING Belgium, said that Mr. Schäuble's suggestions could be a ruse to slow down proposals from Mr. Van Rompuy that Germany dislikes — including euro bonds, which would pool the liability for some of euro zone members' debt.
The German strategy, by contrast, is to insist on tighter, centralised controls of budgets and fiscal policies and then to move towards a pooling of liabilities for banks and debt once the new system is operational and seen to be working.
The top prize on a $1 single-game wager is $100,000; that pool's liability limit is $2,000,000.
Thus, the presence or absence of such chemicals can convey moderately reliable information to the bulk of conspecifics that are deposited during mid-winter regarding the pool's liability to early-spring desiccation.
