Germany not Willing to Pool Eurozone Debt
Via the BBC: German minister rejects plans to pool eurozone debt
Speaking exclusively to the BBC, Secretary of State Steffen Kampeter said "debt is a national responsibility".
"I don’t see any strategies where we socialise and redistribute the bad political decisions made by some who are over-indebted."
The German government has already ruled out full "eurobonds" for now.
Earlier, Chancellor Angela Merkel said world leaders should not "overestimate" Germany’s ability to resolve the eurozone debt crisis.
She told Germany’s parliament that the country’s options for rescuing the eurozone were "not unlimited".
On the one hand, I can certainly see why the German government is reticent to have to help foot someone else’s bill. On the other, should the Eurozone start to collapse, it isn’t as if Germany will be spared the impact. The issue then has to be one of balancing benefits and costs, both in the short and long term.