EconPapers    
Economics at your fingertips  
 

Is there Life in the Old Dog Yet? Observations on the Political Economy and Constitutional Viability of Common Debt Issuing in the Euro Area

Amtenbrink Fabian (), Repasi René and Jakob de Haan ()
Additional contact information
Repasi René: Erasmus Universiteit Rotterdam, Netherlands

Review of Law & Economics, 2016, vol. 12, issue 3, 605-633

Abstract: Departing from a political economy analysis of the benefits of common debt issuance by the Eurozone member states, we examine to what extent the various proposals for Eurobonds may be considered admissible under EU law and exemplary national (constitutional) laws, including those of Germany, Estonia, France, Ireland and Poland, from which one can deduce general national constitutional requirements applicable in all Eurozone member states. The medium and long-term potential gains from increased Eurozone stability and improved fiscal discipline must be traded off against the considerable legal and political obstacles of implementing any of these proposals. Yet key to the success of any common debt issuance is the effective dealing with the legacy debt of the Eurozone member states.

Keywords: Eurobonds; Euro crisis; sovereign debt; TFEU; constitutional law (search for similar items in EconPapers)
JEL-codes: G01 G15 H63 K33 F34 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.degruyter.com/view/j/rle.2016.12.issue ... -0045.xml?format=INT (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:rlecon:v:12:y:2016:i:3:p:605-633:n:7

Ordering information: This journal article can be ordered from
https://www.degruyter.com/view/j/rle

Access Statistics for this article

Review of Law & Economics is currently edited by Francesco Parisi

More articles in Review of Law & Economics from De Gruyter
Bibliographic data for series maintained by Peter Golla ().

 
Page updated 2019-10-08
Handle: RePEc:bpj:rlecon:v:12:y:2016:i:3:p:605-633:n:7