Eurobonds: Legal Design Features

Waibel, Michael

doi:10.1515/rle-2016-0046

Cited by 1 publication

(1 citation statement)

References 19 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Judged by our criteria, the proposal is therefore too limited in size and scope to stabilize EMU." 17 In the same year, Baglioni and Cherubini developed a complex model of issuance of the common Eurobonds with no cross-subsidization. According to their model, part of the national public debt of euro area countries should be converted into Eurobonds.…”

Section: The Proposals For Implementing the Idea Of The Common Eurobomentioning

confidence: 99%

Is the Idea of the Common Eurobonds Issuance in the Eurozone Sustainable?

Pobrić

2019

iele

View full text Add to dashboard Cite

Although the concept of common Eurobonds issuance in the Eurozone was intensively considered during and after the euro area debt crisis, the proposals for implementing this idea appeared earlier, i.e. they have been presented since 1993 to the present day. By considering about fifteen proposals, as well as the expected economic effects of the implementing idea and the fulfillment of legal and political conditions for implementing the idea of the common Eurobonds issuance in the Eurozone, the author tends to answer the question: Is the concept about the common Eurobonds issuance in the Eurozone sustainable? The author concludes that the idea of the common Eurobonds issuance in the Eurozone is not possible in existing conditions, given that numerous proposals presented so far make the idea highly controversial and the possible bi-directionality in manifesting the economic effects and the political opposition additionally make the controversy stronger. However, the idea could be sustainable in the future if fiscal integration and political union in the euro area became strong.

show abstract

Section: The Proposals For Implementing the Idea Of The Common Eurobomentioning

confidence: 99%