Germany's Merkel renews rejection of eurobonds (AP)

BERLIN ? German Chancellor Angela Merkel is insisting that introducing eurozone-wide government bonds wouldn't solve the current debt crisis.

Merkel also said in an interview with ZDF television being broadcast Sunday she sees "nothing that points to a recession in Germany," which has Europe's biggest economy, after growth cooled in the second quarter.

Germany has led opposition to so-called eurobonds, viewed by some as a logical solution to the debt crisis that has pushed up troubled countries' borrowing costs. But critics say they would drive up financially solid nations' costs and encourage others to run up more debt.

Merkel said that "solving the current crisis will not be possible with eurobonds."

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/ap/20110821/ap_on_bi_ge/eu_europe_financial_crisis

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