German and French central bank heads back creation of eurozone Treasury
Alternative would mean different handling of eurozone sovereign risk, central bank heads say
The heads of the Deutsche Bundesbank and Banque de France issued an unorthodox joint statement calling for a more integrated eurozone today (February 8), potentially including a "common Treasury" for the eurozone.
"More integration" appeared to be the "most straightforward solution to restore confidence" in the eurozone, Jens Weidmann and François Villeroy de Galhau said, in an article appearing in both German and French newspapers.
"An efficient and less fragmented European administration"
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