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The Blue Bond Proposal

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  • Jakob von Weizsäcker
  • Jacques Delpla

Abstract

Soaring debt levels and the crisis in Greece has sharpened the focus on fiscal sustainability among eurozone members. The European Union has to tackle high debt levels in vulnerable states which are compounded by a hike in risk premiums on government bonds leading to a debt trap, while designing ways to efficiently finance debt. Furthermore, European solidarity with weaker states should not undermine incentives for individual members to pursue fiscally sustainable policies. This Policy Brief proposes a Blue Bond to resolve these challenges. The authors, Bruegel Non-resident Fellow Jakob von Weizsäcker and Jacques Delpla from Conseil d'Analyse �conomique, Paris, explain the economics behind their proposal, its institutional underpinnings and the implication of it on various participating countries.

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Bibliographic Info

Paper provided by Bruegel in its series Policy Briefs with number 403.

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Date of creation: May 2010
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Handle: RePEc:bre:polbrf:403

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  1. Dette bleue ou dette rouge ? La solution pour mutualiser la dette
    by contact@captaineconomics.fr (Le Captain') in Captain Economics on 2012-07-06 08:14:53
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Cited by:
  1. Zsolt Darvas, 2010. "Fiscal federalism in crisis: lessons for Europe from the US," Policy Contributions 420, Bruegel.
  2. De Grauwe, Paul, 2011. "Governance of a Fragile Eurozone," CEPS Papers 5523, Centre for European Policy Studies.
  3. Tirole, Jean, 2012. "The Euro Crisis: Some Reflexions on Institutional Reform," Open Access publications from University of Toulouse 1 Capitole http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
  4. Keuschnigg, Christian, 2012. "Welche Finanz- und Wirtschaftspolitik braucht Europa?," Economics Working Paper Series 1201, University of St. Gallen, School of Economics and Political Science.
  5. Peirce, Fabrizia & Micossi, Stefano & Carmassi, Jacopo, 2011. "On the Tasks of the European Stability Mechanism," CEPS Papers 4262, Centre for European Policy Studies.
  6. Christian Fahrholz & Cezary Wójcik, 2012. "The Eurozone Needs Exit Rules," CESifo Working Paper Series 3845, CESifo Group Munich.

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