Eurobonds – sovereign-style bonds jointly issued by eurozone members – have once again come to the fore as politicians and market participants debate how to avert a Greek departure from the eurozone, or contain the effects should this become inevitable.

France supports the introduction of this new class of debt, with finance minister Pierre Moscovici expected to champion the idea at tomorrow's summit of EU heads of state, but Germany remains implacably opposed as the issuance of joint debt would in effect introduce fiscal transfer to the currency union.