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Juncker said the rescue fund and eurozone countries would coordinate with the ECB
-- "and we will, as Draghi says, see results." But he also said: "It still has to be decided what exactly we will do when. That depends on the developments of the coming days and how fast we have to react." Asked what exactly was meant by German Chancellor Angela Merkel's joint statements with her French and Italian counterparts, German government spokesman Georg Streiter said Monday: "It is the intention of all simply to send a very strong signal for the euro." He also highlighted Juncker's comment that what will be done
-- and when -- still has to be decided. Streiter didn't talk about any specific action, other than to make clear that Germany still opposes any move to pool government debt, for example through jointly issued eurobonds. Previous bond purchases by the ECB haven't been popular in Germany, where some worry that they go beyond the central bank's mandate. Without commenting directly on the possibility, Streiter said that "the German government has full confidence in the ECB."
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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