In view of rising interest rates for the government bonds of highly indebted Southern European countries, fears of a return to the euro crisis are growing. Austria’s Finance Minister Magnus Brunner said ahead of Thursday’s meeting of euro finance ministers that he was “very concerned” about the high yields. The message to the countries of the euro zone is: “Put your households in order”.
Economists like Ifo boss Clemens Fuest also warn: “The rising interest rates and the growing interest rate differentials could lead to a situation like that of the euro crisis.”
Federal Finance Minister Christian Lindner (FDP), on the other hand, said he did not share these concerns. There is “no reason for anyone to be nervous. The euro zone is stable.” But he also said that all euro zone governments must return to sound public finances.
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