France may propose joint bonds among the eurozone's strongest economies despite Germany's resistance; so-called elite bonds could be used to help eurozone's weaker countries with their debts

Cindy Allen

November 29, 2011 (Associated Press) – A French official says France may propose joint bonds among the eurozone's strongest economies as part of a package of measures to save the shared currency, despite German resistance.

The official said Tuesday that discussions over joint bonds by top-rated triple A eurozone economies is under discussion as the French government prepares for an EU summit next week.

Proponents say the proceeds of the so-called elite bonds could be used to help the eurozone's weaker countries deal with their debts, in return for strict conditions being imposed on their budgets.

The official spoke on condition of anonymity because the sensitive, closed-door talks are still under way.

German Finance Minister Wolfgang Schaeuble dismissed reports of joint bonds Monday, saying they were "completely made up."

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