Posts Tagged ‘Juncker bond’

Notes From Underground: Juncker Bonds, Eurospeak for Junk Bonds

December 9, 2010

The biggest story making the rounds is the op-ed in Wednesday’s Financial Times by two European heavyweights: Finance Ministers Giulio Tremonti of Italy and Jean-Claude Juncker of Luxembourg. In the FT piece, they argue for the ECB and Ecofin to get behind a push for a EUROBOND that is backed by the entire Eurozone¬†and guaranteed by its coffers. While a good idea in theory, the Germans immediately said NEIN to the idea as they realized that they would be the one holding the bag for the entire project.