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Op-ed: The Merkel Plan for sovereign debt problem
Something is stirring in Europe, and once again German leader Angela Merkel is managing to solution for fixing the sovereign debt crisis. Her proposal comes with the ever-wise German?s seal of approval, the Amortization Pact that they offered in November.
This agreement would unite the interest of ailing countries with the interest of those who have asked for taxpayer support without provoking public outcry.
Struggling member states would be offered the chance to finance a portion of their debt through a common amortization fund to be guaranteed by those who sign the pact.
In exchange, and this is the special German touch, a compromise would be set up in national legislation in order to curtail both debts and deficits. This plan provides a way to fix current problems and assure fiscal consolidation.
Source: ElEconomista.es
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