France's President Francois Hollande.

French President Francois Hollande said on Friday that it should not take 10 years to create jointly underwritten euro bonds that are a vital instrument for Europe.

“I consider euro bonds to be an option ... but not in 10 years,” Hollande told journalists after a four-way meeting with the leaders of Germany, Italy and Spain.

“As long as there is a union, an integration, euro bonds will be a useful instrument in Europe and I will continue to work in this direction,” he added.

Hollande said that before European states abandoned sovereignty to a central authority in Brussels that greater solidarity was needed between nations. - Reuters