Fiat Boss Says Eurobonds only Solution to Debt Crisis

The head of Italian auto giant Fiat, Sergio Marchionne, said Wednesday that issuing Eurobonds is the only solution to the looming Eurozone debt crisis -- following Italy's lead on supporting the idea.

"I do not believe that there are any other solutions to the problem," he said on the sidelines of a conference in Rimini.

"It's a complex topic, but if European countries do not share the risks, I can hardly see how they can get out" of the situation, he said.

French President Nicolas Sarkozy and German Chancellor Angela Merkel ruled out the controversial scheme to pool the 17 Eurozone nations' debt during a summit in Paris last week, insisting Eurobonds are not the answer.

But on Sunday Merkel left the door open to a change in policy at a later date, telling ZDF television that she did not know "whether we in the distant future will need to further adapt," sparking rumblings of concern in Berlin.