Certainly it could be. However Germany is being a tough bride and probably would love to get "something nice" in return.
Once the Eurobond is in the markets, who will be in charge of deciding how much debt goes to each country? Will a supra-organization obstruct the issue of more debt in Italy, for example? Will all the countries lose another important variable to control their economy (first currency, interest rates)? Will they be willing to do so?
The solution is clear, but the consequences are not easy to overcome. We´ll see soon.
16/12/2010
