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Project Syndicate: The Trouble with Eurobonds, by Hans-Werner Sinn, August 26, 2011
Instead of introducing another instrument for redistribution, Sinn believes that it is now time for the Euro countries in the South to clean up their public finances through austerity/discipline:
..."It is time for Europe to face reality and initiate the difficult adjustment processes within the real economy that are necessary to rebalance the eurozone. Eurobonds would numb the distressed countries’ current pain, but, by failing to treat the underlying disease, they – and the eurozone as a whole – would end up far sicker than before."...
Keywords: European Crisis, Eurobonds
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