Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/221813 
Year of Publication: 
2020
Series/Report no.: 
EconPol Policy Brief No. 26
Publisher: 
ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich
Abstract: 
The purported advantages of corona bonds over the ESM are meagre to non-existent, says Friedrich Heinemann (EconPol Europe, ZEW). The challenge we face is to contain the spread of COVID-19 while stabilising the economy and ensuring eurozone states have sufficient liquidity and the ESM is a suitable tool for pursuing these ends. However, we should wait until the acute phase of the crisis has passed before engaging in discussion of how to handle high debt levels and possible cases of insolvencies among eurozone nations, and the difficult question of who finally bears the burden of unsustainable debts.
Document Type: 
Research Report

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