A united Europe faces the question of issuing pan-European bonds. Germany is against this measure, but analysts are confident that the decision will still be made, even though it will not save the eurozone.

The European Commission will decide on the issue of common bonds. Proposals for Eurobonds will be published on November 23. If this initiative is adopted, EU countries will share debt obligations. Previously, German Chancellor Angela Merkel was categorically against pan-European bonds.

"Eurobonds and the common debt do not guarantee us a sustainable future for Europe. We need to implement effective sanctions against those countries that hinder the development of the eurozone and cause its instability. Such countries need to be taken to the European Court, we must have real shared responsibility," – said Merkel.

Unified debt securities will not save the situation in Europe, says independent financial and economic expert Alexander Trifonov.

“The issue of these bonds is one of the ways to obtain liquidity and raise funds from outside or within the eurozone. Firstly, the cost of servicing will be very high, and secondly, it is not clear where to get funds to purchase these bonds. These funds can only be taken from countries -donors, such as Germany. That is, it must solve the problems of other countries at its own expense. This measure, in my opinion, will not be effective, and in the future the situation will only get worse, and, in the end, everything will end with the collapse of the eurozone,” –– he noted.

The issue of pan-European bonds can improve the situation in financial markets, says Sergei Khestanov, managing director of the Alor group of companies.

“The decision on the possible issue of Eurobonds is most likely a reaction of the EU monetary authorities to a serious deterioration in the situation. It is possible that the contradictions between the issue of these instruments and the principled position of Germany may push national governments to adopt more realistic and effective saving programs. After the elections in In Germany, where noticeable changes are possible, the position will soften and, accordingly, the introduction of Eurobonds to the market will take place,” he said.

According to analysts, this initiative could lead to a weakening of budget discipline in EU countries

"It will all end with the collapse of the eurozone"