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Paths to eurobonds

Author

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  • Stijn Claessens
  • Shahin Vallée
Abstract
This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions- in the short-term, stabilize financialmarkets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal discipline and risk-sharing.Many questions remain onwhether financial instruments can ever accomplish such goals without bold institutional and political decisions, and,whether, in the absence of such decisions, they can create new distortions....

Suggested Citation

  • Stijn Claessens & Shahin Vallée, 2012. "Paths to eurobonds," Working Papers 733, Bruegel.
    • Handle: RePEc:bre:wpaper:733
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    References listed on IDEAS

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