Germany needs Eurobonds
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Uh-oh…
The German government was unable to sell about 35pc of the €6bn (£5bn) 10-year bonds it offered to the market, getting just €3.9bn of debt away.
Given Germany is supposed to the ‘safest’ Eurozone government, this is very worrying: Dr Shapiro says: “The fact is, global investors no longer have sufficient confidence to buy German bonds.” He explains in the video below why the Eurozone needs to issue eurozone bonds - the key to a monetary union is to have the “full faith and credit of the whole must stand behind the full faith and credit of the part”. (if the video clip below does not play, you can watch it at the source here).
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