George Soros: EU member states should issue perpetual bonds

Investors will buy perpetual bonds only from an entity that they believe will continue to exist for the foreseeable future, sadly this is not true of the European Union today — so the time has come for individual nations to take action

If one country issued perpetual bonds, other European countries would find it an example worth following. Picture: Getty

I have written a lot in the past about the desirability of the European Union issuing perpetual bonds. But today I am proposing that individual member states should do so.

Right now, it would be impossible for the EU to issue perpetual bonds, because the member states are too divided. Poland and Hungary have vetoed the next EU budget and the Covid-19 recovery fund, and the so-called Frugal Five (Austria, Denmark, Germany, the Netherlands, and ...