European Finance Ministers from all seventeen countries that use the Euro have descended on Brussels today in order to attempt to stop the run on their currency. The meeting could not have come at a better time because bond yields in Italy continued to move north of seven percent, which remains unsustainable over the long-term.
Among the many topics of the meeting today will be greater integration and uniformity between all seventeen countries. One of the ways to potentially accomplish this is to issue joint Eurobonds, although Germany still denies it has any intention of allowing this action. Sooner or later though, Germany may have to budge on certain issues if they want to continue to use the Euro in its present form into the future.
Eric Marvin, CFP®, CRPC®
Financial Planner
Fort Myers, Florida
JPT112911-1928
