German Chancellor Angela Merkel has rejected the idea of sharing Europe's debt, saying that she would rule out Eurobonds 'for as long as I live.'
Merkel was addressing MPs from the Free Democrats Party, her junior coalition partner, at a private meeting on Tuesday.
Her comments come a day after she labelled the idea of using Eurobonds, "economically wrong and counterproductive," at a conference in Berlin.
Merkel is in direct opposition to the leaders of two of the other 'big four' Eurozone members, France and Italy. French President Francois Hollande and Italian Prime Minister Mario Monti, have stated their desire for a plan to be drawn up to issue jointly-guaranteed debt in order to reduce borrowing costs for struggling Eurozone nations.
With just two days to go until the crucial European summit in Brussels, these differences will need to be resolved if the EU nations are to effectively tackle the Eurozone crisis.
Written and narrated by Alfred Joyner