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Eurobonds in sentence

237 examples of Eurobonds in a sentence

Many people think that 2012 will be the make-or-break year for Europe – either a quantum leap in European integration, with the creation of a fiscal union and the issuance of Eurobonds, or the eurozone’s disintegration, igniting the mother of all financial crises.
This also implies that Eurobonds will never constitute the silver bullet that some had hoped would solve Europe’s sovereign-debt crisis.
Eurobonds, for example, would not only create moral hazard; “taxation without representation” would also violate a fundamental tenet of democracy and undermine support for the European idea.
That compromise (which also led to the US capital’s relocation to the District of Columbia, on the border of Virginia and Maryland) may serve as a precedent for limiting Germany’s liabilities if Eurobonds, or some other debt-mutualization scheme, are introduced.
In the longer-term, we should revisit the idea of joint Eurobonds.
Sub-Saharan Africa’s Subprime BorrowersNEW YORK – In recent years, a growing number of African governments have issued Eurobonds, diversifying away from traditional sources of finance such as concessional debt and foreign direct investment.
As Europe’s sovereign-debt crisis deepens, many argue that only pooling eurozone members' debt by issuing Eurobonds can save the single currency.
Are Eurobonds the answer, or would they simply reward profligate behavior?
An attempt at re-opening the debate about Eurobonds, or the partial mutualization of eurozone public-sector liabilities, was viewed as a pie-in-the-sky suggestion, mostly just a distraction.
The eurozone was established without a fiscal transfer mechanism to succor members of the family who get into trouble; the European Central Bank is prohibited from acting as lender of last resort to the banking system; and the Commission’s proposal for Eurobonds – collectively guaranteed national bond issues – has foundered on Germany’s objection that it would bear most of the liability.
Eurobonds without FearSANTIAGO – The day of the Eurobond may be near.
This is where Eurobonds come in.
Eurobonds would cut borrowing costs for the European Union’s two large troubled members.
The debate about whether and how to introduce Eurobonds has focused on the appropriate limits on issuance.
Eurobonds plus fiscal rules: this formula is the euro’s best hope for salvation.
Significantly, two proposals that were most likely to meet German opposition – Eurobonds to pool risk and the transformation of the European Stability Mechanism into a bank that could borrow from the European Central Bank – were removed from his draft memorandum to European leaders.
Common taxation and Eurobonds should form part of the new fiscal structure, and the European Stability Mechanism should include a debt redemption fund large enough to resolve sovereign-debt crises.
Now it wants to socialize not only government debt by introducing Eurobonds, but also banking debt by proclaiming a “banking union.”
It would be far preferable to exchange them for Eurobonds, backed by the full faith and credit of all eurozone countries.
Though a write-off of eurozone debts would be politically difficult, it would be possible to refinance a large proportion with longer maturity Eurobonds, which all eurozone countries would underwrite.
Debt relief could take various forms other than Eurobonds, and would be conditional on debtors abiding by the fiscal compact.
Specifically, it demands sovereign-debt mutualization through Eurobonds, and thus the elimination of eurozone countries’ fiscal sovereignty, and a full-fledged banking union with recapitalization authority and shared deposit insurance – a far cry from the arrangement that has been agreed.
Germany was also forced to compromise in 2012, when Merkel was pushed into agreeing to a banking union and the ECB’s “outright monetary transactions” program, which effectively turned European government bonds into Eurobonds.
On this topic, there is no shortage of expert plans – among them bond buy-backs, bond swaps, and the creation of Eurobonds, a European version of the “Brady” bonds issued by Latin American countries that defaulted in the 1980’s.
Despite pleas from the IMF and the OECD, Germany also remains implacably opposed to Eurobonds, which could ease the funding constraints of other eurozone members and bolster the resources of the European Stability Mechanism, which currently does not provide a credible firewall against a run on Spanish or Italian sovereign debt – or on the European banks that hold it.
But a shift toward policies to promote growth, supported by the easing of deficit targets and the issuance of Eurobonds, is essential to bring Europe back from the brink of sustained recession, to stabilize Europe’s financial markets, and to prevent another significant disruption to global capital markets.
Moreover, their debt could be ring-fenced with a larger package of EFSF resources and/or with the issuance of Eurobonds – a further step towards European fiscal integration.
The natural quid pro quo for ex ante budgetary control is solidarity through the creation of Eurobonds.
Thus, legally binding ex ante control is a necessary condition for Eurobonds.
Why not, then, quickly introduce new instruments such as Eurobonds, or create an EU mechanism comparable to the IMF?
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