The Bundesbank President Jens Weidmann said in Frankfurt on Friday that debt in the Eurozone has reached the "danger zone" as public debt totalled 91% and corporate debt - 105%.

Weidmann noted that a European solution may be required for the regulatory treatment of sovereign debt.

"Sovereign debt needs to be backed by capital, and exposure to a single sovereign must be capped, just as is the case for any private debtor", the Bundesbank president said.