“Eurobonds and Eurobills should be part of the recovery” says British Euro MP Sharon Bowles

Sharon Bowles MEP, who chairs the European Parliament's powerful Economic and Monetary Affairs Committee, has today called on the European Commission to clarify its position on Common Stability Bonds, known commonly as 'Eurobonds'.

Ms Bowles, who was recently re-elected to chair the Committee for the remainder of the parliamentary session, also took the opportunity to promote Eurobills - a shorter-term bond currently being discussed in Brussels.

Speaking in the Parliament, Sharon Bowles MEP said:

"With regard to fixing the Eurozone crisis, Eurobonds would show there is a medium-term plan beyond austerity.

"I also believe that short-term 'Eurobills' should be considered - I dub these a 'beginner's bond' - which would be time and quantity limited, with good behaviour needed to allow roll over.

"Eurobills also have the advantage of lower interest rates - in these times of high debt, struggling Member States need every basis point squeezed off what they have to pay.

Ms Bowles added:

"Taking the over-riding necessity of squeezing down debt servicing payments in to account, I would also suggest re-circulating the profit element of bond interventions by the ECB back to the indebted Member State."

ENDS

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