Focal Points

As Europe’s sovereign-debt crisis deepens, many argue that only pooling eurozone members' debt by issuing Eurobonds can save the single currency. But Germany and other northern European countries are reticent to underwrite what they view as distressed countries’ irresponsible borrowing. Are Eurobonds the answer, or would they simply reward profligate behavior? Project Syndicate's economists have their say.

Would Eurobonds Work?

Most recent

  • Newsart for Which Eurobonds?

    Which Eurobonds?

    OSLO – Any solution to the eurozone crisis must meet a short-run objective and a long-run goal. Unfortunately, the two tend to conflict.The …

  • Newsart for The Wrong Austerity Cure

    The Wrong Austerity Cure

    BERKELEY – Fiscal profligacy did not cause the sovereign-debt crisis engulfing Europe, and fiscal austerity will not solve it. On the contra…

  • Newsart for Democracy versus the Eurozone

    Democracy versus the Eurozone

    BRUSSELS – The European Union is a voluntary quasi-federation of sovereign and democratic states in which elections matter and each country …

  • Newsart for Two Models for Europe

    Two Models for Europe

    MUNICH – Interest rates for public debt within the eurozone have spread once again, just as they did before the introduction of the euro. Ba…

  • Newsart for The ECB Fear Factor

    The ECB Fear Factor

    BRUSSELS – Panic is beginning to overwhelm the eurozone. Italy and Spain are caught in the maelstrom. Belgium is slipping into the danger zo…

  • Newsart for Eurobonds without Fear

    Eurobonds without Fear

    SANTIAGO – The day of the Eurobond may be near. What was once a quack’s idea for resolving Europe’s financial crisis is now the only reliabl…

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