Merkel rejects therapy

The only way out of the crisis is to merge the debts of the Eurozone countries by issuing eurobonds, writes the left-liberal daily La Repubblica: "In reality everyone knows what the only way is to save the euro and Europe. But Angela Merkel is against this course of therapy and the other governments lack the power to change Berlin's mind. ... To get round the German veto they have resorted to extremely complicated mechanisms like the ESFS bailout fund. But it has long been clear that these measures are only encouraging speculation. Speculators have an easy time playing around with the different interest rates. ... But now that the markets have Italy in their sights the time has come to introduce eurobonds. Only this can save Europe and the euro. Otherwise we must prepare for the worst. This goes for Germany too."

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