Save the euro bonds for later

Issuing euro bonds is not the right approach to the euro crisis, writes the left-liberal daily De Volkskrant: "Issuing common bonds for the entire Eurozone could at most be the final step of a necessary integration of the euro countries. If countries like Spain and Italy don't get their budgets sorted out there will be little trust in the euro bonds. The proposals put forward by the European Commission on Wednesday offer a better approach to the problem. Commission President Barroso rightly points out that Europe must be in a position to take tough action when countries fail to put their budgets in order. For the doubting political leaders in Berlin and Paris this should be an incentive to overcome opposition to further integration. The euro bonds can come later."

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