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An EU Debt Plan Draws Backing
Keywords:
A new plan for the eurozone crisis from the German Council of Experts which would create a European Redemption Fund to take over sovereign debts in excess of 60% of GDP, and impose constitutional brakes on spending on troubled eurozone coutries.
The German Council of Experts and the plan for a European Redemption Fund as a solution for eurozone crisis
01/11/2010
The plan would take over sovereign debt in excess of 60% of GDP of troubled eurozone countries. The countries would setup constitutional brakes on spending and rapidly reduce debt levels with strict economic governance. This plan from German experts is designed to provide the strict economic governance seeks and avoid the solution of common eurozone bonds which Germany opposes.
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