The idea of joint European bonds, or Eurobonds, has been marshaled by Jean-Claude Juncker, the president of the euro group of finance ministers, and Giulio Tremonti, the Italian finance minister. Covering in part the sovereign debt of the euro group, it might reassure the jittery markets. But, as you point out, this idea centers on two questions for the European leaders (“The Name’s Bond, Eurobond,” January 22, 2011). They are worth citing in full: “First, are the most solvent states, above all Germany, prepared to stand behind and, if need be, to subsidize the less solvent ones? Second, are the most indebted countries ready to endure economic pain—wage cuts, the end of cherished benefits, and the imposition of labor-market reforms—to balance the books and encourage growth?” Very good questions, these. Judging by the ceaseless bickering among the European leaders, though, the answer to both questions is a resounding “no way!” But this is what your article fails to point out. And in no uncertain terms. The jittery markets cannot be reassured by waffle, even when it comes from a mighty newspaper like yours.