A European Debt Agency could create a safe asset without debt mutualisation
A European Debt Agency could greatly help in implementing a new fiscal policy strategy in Europe. This column identifies fluctuations in bond prices over the past 20 years that such an agency could have prevented, and argues that the agency could absorb the entire euro area debt while reducing its size due to less volatile price dynamics. A European Debt Agency could be used
New York United States Oxford University Press Public Affairs Luiss School Of Political Economy European Debt Agency
Source: voxeu.org