_ Wolfgang Schauble wants 20% of the debt for each member country of the Euro Zone to be put in a redemption fund to be paid off over 20 years. Every country needs to strive for a debt at 60% of GDP. Germany has a national debt at 80% of GDP. They are trying to reduce it. So they would put 20% in the fund, too. They intend to pay off the debt with tax revenues. That is what all member countries should do.

This all seems perfectly reasonable to Germans. It’s the German way of doing things and want to spread it around Europe. Merkel says it’s “interesting” but intends to push mainly for the main proposal with “teeth” at the summit on December 9.