Experience Stern | News & Events

Excerpt from The Wall Street Journal -- "If Germany could credibly assure financial markets that the euro zone will not break up, then sovereign differentials would be reduced, bank balance sheets would be improved and prospects for future growth would rise. How could Germany convince financial markets? One way would be by committing to back eurobonds or similar forms of debt mutualization. If $2 trillion of eurobonds were authorized to recapitalize the banks—and the first tranches sold and used to rescue the weakest banks—then confidence in the market would do the rest."

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