Euro Bonds Won’t Cure What Ails Europe: Kotz, Krahnen and Leuz
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Sept. 15 (Bloomberg) -- In recent weeks, euro bonds havegained traction in policy circles as the solution to thesovereign-debt crisis.
The proposed debt could be structured in different ways,but in all cases it would imply joint and severally issuedobligations by the members of the euro zone and wouldfundamentally change the fiscal operations of the union.