Feeling the blues: moral hazard and debt dilution in Eurobonds before 1914
Debt mutualisation through Eurobonds has been proposed as a solution to the Euro crisis. Although this proposal found some support, it also attracted strong criticisms as it risks raising the spreads for strong countries, diluting legacy debt and promoting moral hazard by weak countries. Because Eur...
|Place of publication:||
|Data of publication:||2016-03-17|
Journal of International Money and Finance , 65 pp. 46-68. (2016)
|Online Access:||available in Bonn?|
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