ECB official suggests rewarding good fiscal behavior

German Logo of the ECB.                       
Athanasios Orphanides, a member of the European Central Bank Governing Council, said the eurozone could create tougher debt standards that financially stable nations could opt to adopt to encourage fiscal soundness. "Perhaps a better solution ... is for the euro-area member states to self-select into those willing to adopt stricter rules and sanctions, and those not willing to do something," he said. "Any member state that wishes to join a well-designed mutual stability-insurance mechanism would have to entirely agree to the adoption of strong fiscal rules and meaningful sanctions." Full story here