Eurobonds

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Based on EU leaders' proposals, a Eurobond would be a collective bond issued by the 17 member nations of the euro zone.

Since it consolidates the euro zone countries' debt into a single bond, its credit rating would be substantially higher than that of the PIIGS nations but lower than Germany's triple-A rating.

The creation of Eurobonds is still up for debate as more stable economies such as Germany are strongly opposed to the idea. However, other debt-ridden nations are hopeful that Eurobonds could be a longer-term solution to the euro zone debt crisis.

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