DNB working paper puts forward Eurobonds solution

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A working paper from The Netherlands Bank (DNB) puts forward a new suggestion for centrally-issued Eurobonds for eurozone member states, which the authors claim "improves the trade-off between stability and moral hazard".

Under the proposal, a central authority would distribute Eurobond funding to member states "only if they have sustainable fiscal policies as defined in the Maastricht Treaty", or are implementing "a strictly monitored adjustment programme".

In their paper: Towards a Stable

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