Luxembourg Prime Minister Jean-Claude Juncker and Belgian Prime Minister Yves Leterme support the idea of a single euro-zone government bond as a way for the monetary union to move forward. AFME also is looking into the idea. "The euro zone faces two clear choices: greater fiscal cooperation or it blows up. This for many means only one choice: greater cooperation," said Mark Austen, managing director of AFME. "In this instance, the common bond becomes a logical step. It would be a much bigger benchmark than single-country bonds, and it would come to the market much more frequently."

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