‘ONE TWO! ONE TWO! PssT! Eurobonds. E Presidency.’ On 24 May 2012, French cartoonist Michel Iturria illustrates the deep differences between Paris and Berlin on how to resolve the debt crisis in the euro zone. The German Chancellor Angela Merkel strongly advocates restoring order to public finance and imposing strict budgetary rigour in the European countries experiencing difficulties (particularly Greece and Spain, which are having to ‘keep in step’), while French President Hollande is in favour of the introduction of Eurobonds, a system which involves pooling the debt of European states. Herman Van Rompuy, President of the European Council, is standing next to the French President.