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Eurobonds in sentence

237 examples of Eurobonds in a sentence

This agenda includes centralizing European debt through Eurobonds, mobilizing sufficient rescue funds, allowing the ECB to exercise the full range of central-banking powers, and reinforcing policy coordination in order to sustain economic activity in austerity-stricken member countries.
They could envisage the issuance of Eurobonds only after the completion of real economic and fiscal adjustment.
Eurobonds, viable in the longer term, are thus premature, because they imply a relaxation of conditionality, thereby weakening incentives to implement reforms.
The Trouble with EurobondsMUNICH – German Chancellor Angela Merkel has withstood the pressure from southern Europe: there will be no Eurobonds.
Southern Europe, however, is pushing hard for a complete changeover to Eurobonds to get rid of the interest-rate premiums relative to Germany that markets are demanding of them.
Now that interest-rate spreads are increasing again, the pain is considerable, prompting calls for Eurobonds.
The markets, not political debt ceilings, are taken seriously; the introduction of Eurobonds would remove that disciplining function.
Eurobonds would numb the distressed countries’ current pain, but, by failing to treat the underlying disease, they – and the eurozone as a whole – would end up far sicker than before.
The widening spreads between the interest rate on German eurobonds and some of the other countries’ euro bonds show that global bond markets take this risk seriously.
For example, while the current yield on 10-year German government eurobonds is 3.33%, the corresponding yield on Greek eurobonds is 4.7% and 4.77% for Ireland’s eurobonds.
The longer that European authorities postpone the introduction of Eurobonds, an effective banking and fiscal union, and lender-of-last-resort status for the ECB, the longer the crisis will last.
Second, Europe needs eurobonds.
This is best accomplished by authorizing the issuance of eurobonds, which would be jointly guaranteed by all of the member countries.
Which supranational agency will be in charge of issuing eurobonds?
Presumably, the eurobonds would be under the control of the eurozone finance ministers.
Because the fate of Europe depends on Germany, and because the issuance of eurobonds will put Germany’s own credit standing at risk, the compromise will clearly have to put Germany in the driver’s seat.
Bruegel, the Brussels-based think tank, has proposed that eurobonds should constitute 60% of eurozone members’ outstanding external debt.
In my view, new issues should be entirely in eurobonds up to a limit set by the Board.
The higher the volume of eurobonds a country seeks to issue, the more severe the conditions the Board would impose.
The Board should have no problem imposing its will, because denying the right to issue additional eurobonds would be a powerful deterrent.
Inability to issue eurobonds could result in a disorderly default or devaluation.
This is a particular concern for Africa, where, since the Seychelles issued its debut Eurobond in 2006, the total value of outstanding Eurobonds has grown to nearly $35 billion.
Jointly guaranteed Eurobonds are already waiting in the wings to be used as instruments of debt mutualization.
That means strengthening the eurozone, which would probably require wider use of Eurobonds and a eurozone-wide deposit-insurance scheme of some kind.
Officials seem not to recognize change unless it takes the form of Eurobonds, new European treaties, or policy reversals by German Chancellor Angela Merkel.
The implication is that it would entail a much larger EU budget, presumably financed by some kind of EU-wide taxation, as well as eurozone-backed unemployment insurance and a debt-mutualization mechanism like Eurobonds.
If past problems are already being corrected, and future problems will be of a different kind and magnitude, then perhaps there is no need for Eurobonds or EU taxes.
Pundits keep expecting Germany to pull a rabbit out of the hat and flood the continent with Eurobonds, or that Mario Draghi will mount a coup at the European Central Bank and buy up every deadbeat country’s bonds.
Europe’s Futile Search for Cheaper MoneyBRUSSELS – Various forms of common “European bonds”, more precisely eurobonds, have been proposed recently as a way out of the current euro crisis, with proponents stressing the promise of lower borrowing costs.
Reforming governance implies significant progress toward economic unification: centralizing European debt through Eurobonds, mobilizing sufficient rescue funds, allowing the European Central Bank to intervene in the primary bond markets, and establishing both a fiscal and a banking union.
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