Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
On second thought: this has nothing to do with Eurobonds. It is, in fact:

  1. The Greek "Escrow Account" by another name: EU Deficit countries would issue bonds secured by priority claims on tax revenues
  2. The reverse of Keynes' proposal at Bretton Woods: a proposal to pile interest penalties on current account deficits (Sinn does admit that the origin of the Target2 balances is persistent intra-EU current account imbalances) where Keynes proposed to charge interest on current account surpluses


There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Carrie (migeru at eurotrib dot com) on Thu Mar 1st, 2012 at 04:33:13 AM EST
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