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EU touts eurobond plan

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EU touts eurobond plan


Despite denials that the EU is looking to issue eurobonds to help solve the bloc’s debt crisis, the concept has been mooted in the European parliament.

The announcement came during a debate to discuss the financial bailout mechanism and long term stability within the eurozone.

European Commission President Jose Manuel Barroso said the eurobonds plan is “not just an act of solidarity, it’s an act of self-interest.”

He said that the proposals may need changes to EU treaties.

Eurobond debt would be jointly issued and underwritten by all 17 members of the Eurozone.

The idea is opposed by Germany.

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