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European Union debt, a new benchmark asset?
[La dette de l’Union européenne, un nouvel actif de référence ?]

Author

Listed:
  • Léa Le Quéau
  • Agathe Madeline
  • Paul Sabalot

Abstract

The European Union is going to issue close to EUR 800 billion of debt to finance the NextGenerationEU recovery plan, making it one of the largest public debt issuers in the euro area. European debt has some key advantages that would make it ideal as a benchmark asset. However, it still needs to reach the critical mass required to ensure a sufficiently liquid secondary market. Avec près de 800 milliards d’euros de dette à émettre pour financer le plan de relance NextGenerationEU, l’Union européenne rejoint la catégorie des grands émetteurs publics de la zone euro. La dette européenne dispose de solides atouts pour s’imposer comme actif de référence mais elle doit encore atteindre une masse critique afin d’offrir une liquidité suffisante sur le marché secondaire.

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Handle: RePEc:bfr:econot:264
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File URL: https://www.banque-france.fr/en/publications-and-statistics/publications/european-union-debt-new-benchmark-asset
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File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/la-dette-de-lunion-europeenne-un-nouvel-actif-de-reference
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