Eurobonds without Fear
The debate about whether and how to introduce Eurobonds has focused on the appropriate limits on issuance. But the right question is not what to do when debt gets near its limit, however high or low; it is how to prevent debt from getting near that limit in the first place.
https://prosyn.org/E6F78MO
SANTIAGO – The day of the Eurobond may be near. What was once a quack’s idea for resolving Europe’s financial crisis is now the only reliable way to save the euro. Having their bonds purchased by the European Central Bank did not keep Greece, Ireland, and Portugal from needing a bailout. It will not save Spain and Italy, either.