EU Commission sees eurobonds as way out of crisis

The European Commission chief wants to introduce joint eurobonds of the 17 euro nations as an effective way to tackle the financial crisis, an idea which puts him on a collision course with German Chancellor Angela Merkel.Jose Manuel Barroso said Monday that a eurobonds plan makes sense if linked to stringent fiscal rigor among the member states which would to make it impossible for profligate nations to live on the back of budget-conscious countries.Germany has opposed the principle of eurobonds since it would expose its taxpayers to weaker countries bad debt. Germany already funds the bulk of the existing bailouts.