An Effective Response to Europe’s Fiscal Paralysis
With Hungary and Poland vetoing the European Union's budget and COVID-19 recovery fund, the case for issuing perpetual bonds has never been stronger. While the EU cannot currently do so, given uncertainty about its future, many of its member states can and should.
NEW YORK – I have written a lot in the past about the desirability of the European Union issuing perpetual bonds. But today I am proposing that individual member states should do so.