Roubini och Gavyn Davies om Eurobonds och Italien

Eurobonds are out of the question as Germany is against them and
they would require a change in treaties that would take years to approve.

Nouriel Roubini, FT 10 November 2011

Italy’s labour cost competitiveness against Germany has deteriorated by around 50 per cent since the mid-1990s.
How can this conceivably be reversed in a low inflation environment within EMU?
Gavyn Davies, FT November 13, 2011 


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