Nowotny: „Germany Has Key Function“

More+Comment ♦ Published: July 18, 2012; 20:00 ♦ (Vindobona)

The governor of OeNB (Austrian Central Bank) is against forced loans in Austria. Regarding Eurobonds, Germany as Europe´s biggest economy would have the key function.

Nowotny: „Germany Has Key Function“ / Picture: ©

Last week, the German Institute of Economic Research (DIW) suggested that wealthy individuals should be obliged to purchase sovereign bonds. Up to 10% of the individual wealth should help to bear the high public debt. Persons with assets worth more than € 250,000 should be affected. Nowotny rejects the idea of forced loans.  In problem countries such as Greece, it would be a…