Europe’s Futile Search for Cheaper Money

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Daniel Gros
Economic Policy, CEPS Commentaries, Promoted on Publications home page
11 February 2011
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Various forms of common ‘European bonds’, or more precisely eurobonds, have been proposed recently as a way out of the current euro crisis, with proponents stressing the promise of lower borrowing costs. While acknowledging that the proposal is tempting and even quite promising in theory, this Commentary by CEPS Director Daniel Gros finds it seems mostly to be wishful thinking.