The integration of the European government bond markets during the crisis

Przemyslaw Panfil ()
Additional contact information
Przemyslaw Panfil: University of Gdansk

Ekonomia i Prawo, 2012, vol. 9, issue 2, 13-26

Abstract: Since the financial crisis in Europe, the concept of the integration of the government bond market has returned. The key element of this idea is the creation of Eurobonds. They would be a single debt instrument backed by the joint and several guarantees of all euro-area members states. The creation of Eurobonds in current market circumstances is burdened with serious risks and may lead to the spread of the financial crisis. In particular, it may be doubted whether this instrument would have the highest rank of creditworthiness, and only an AAA rating would reduce speculations against individual countries and costs of debt refinancing.

Keywords: integration; government bond marked; crisis (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://dx.doi.org/10.12775/EiP.2012.014 (application/pdf)

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:cpn:umkeip:v:9:y:2012:i:2:p:13-26

Access Statistics for this article

Ekonomia i Prawo is currently edited by Barbara Polszakiewicz and Jerzy Boehlke

More articles in Ekonomia i Prawo from Uniwersytet Mikolaja Kopernika
Bibliographic data for series maintained by Miroslawa Buczynska ().