France's Villeroy calls for euro area bonds, treasury and budget
France's central bank governor called on Wednesday for the creation of euro zone bonds, a common Treasury and even a shared budget in an ambitious speech before a European Union parliamentary committee.
Francois Villeroy de Galhau's comments echo long-standing French proposals, which have so far fallen on deaf ears in countries such as Germany, which fear they would end up footing the bill for their struggling neighbours.
In a bid to create a safe asset for banks to use as collateral, the French governor advocated the creation of synthetic euro area bonds, backed by actual debt issued by... read more
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