Ladies & Gentlemen,
Countries that practice can not permanently live beyond their means, would benefit from the much-discussed € bonds - if they came for.
The reason is clear: these countries could use in this case the capital market at far lower interest rates than is the case today. For today must pay cash-strapped countries of the euro zone a premium in the form of higher interest rates on the capital market. That is the risk premium, buyers of government bonds from these countries get weak.
behaves exactly the opposite is with euro countries such as Germany, the Netherlands, Luxembourg and Austria. These countries have their public finances (Relatively) under control. And, it is satisfying that the German € locomotive again after the economic crisis is under steam. Therefore, use this economic "powerful" countries in the capital market at significantly lower interest rates.
But if the single European government bonds of the entire community would be spent €, then the powerful countries would have to pay higher interest rates and would be punished for it because they save and good economies. Germany, for example, would spend about 20 billion euros more in interest. This money would then be either saved, or the debt of Germany would rise further.
The weak euro countries, however, would be rewarded with lower interest rates that they have in their household permanent disorder. This is exactly what would help to save the incentive evaporates rapidly and that the party goes into the Mediterranean Sea, at the expense of other countries. --- Peter Bröll
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