Ackermann Says Euro Bonds Aren’t Answer for Euro Crisis
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Josef Ackermann, the former Deutsche Bank AG chief, said joint debt sales would force Germany to assume the funding burden and would take pressure off other euro-area nations to implement changes as they battle a worsening crisis.
“I’m against euro bonds,” Ackermann told Bloomberg News in an interview yesterday in Washington. “If we do it right now, it allows maybe the funding with Germany guaranteeing up to 27 percent,” and “that would mean that maybe the pressure from other countries to do the necessary reforms would be taken away and that would be wrong.”