CashNews.co
Joint debt just isn’t on Germany’s agenda — irrespective of a warning by former Italian Prime Minister Mario Draghi that it’s the only way to make the European Union more competitive with China and the U.S.
The former leader had barely finished presenting his long-awaited report on Monday about how to fix Europe’s ailing economy — with its centerpiece of common bond issuance — when German Finance Minister Christian Lindner retorted that such an approach wouldn’t solve the region’s structural problems.
“I am very skeptical about Mr. Draghi’s approach to debt,” the politician told N-TV in one of a series of swift reactions. “That can be summarized briefly: Germany should pay for others. That can’t be a master plan.”