Joint debt just isn¡¯t on Germany¡¯s agenda ¡ª 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 ¡ª with its centerpiece of common bond issuance ¡ª 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.¡±
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