Political debate aside, eurobonds are plagued with so many administrative hurdles, they may never see the light of day.
In Fisher Investments' view, the deregulation, tax relief and labor market liberalization Merkel's pushing likely provide the best long-term path for Europe. As ever, though, there's likely no quick fix for the region.
Even if the union can pull off eurobonds in the far future, as a potential near-term fix for the eurozone they're no more a silver bullet than any of the other grand plans touted in the past two-plus years. But the political will to preserve the euro remains steadfast, and officials likely continue their step-by-step approach to keeping the currency union intact.