Perpetual bonds are the answer to the EU’s Covid-19 woes
The union should look to history for a solution to the economic catastrophe and existential crisis it is now facing
Ursula von der Leyen, the European Commission president, has announced that Europe will need about €1 trillion to fight the Covid-19 pandemic. This money could be used to establish a European recovery fund. But where will it come from?
I propose that the EU should raise the money by selling perpetual bonds, on which the principal does not have to be repaid (although they can be repurchased or redeemed at the issuer’s discretion). Authorising this...
Subscribe from just €1 for the first month!
Exclusive offers:
All Digital Access + eReader
Trial
€1
Unlimited Access for 1 Month
*New subscribers only
Annual
€200
€149 For the 1st Year
Unlimited Access for 1 Year
Quarterly
€55
€42
90 Day Pass
2 Yearly
€315
€248
Unlimited Access for 2 Years
Team Pass
Get a Business Account for you and your team
Related Stories
Pat Rabbitte: Has Europe learned its lesson from the last crash?
The ECB responded to the last global recession by embarking on an austerity binge, but things are different this time
Brian Keegan: Latest Brexit row shows that changing borders has a price
A lack of any serious engagement with the economic consequences of Brexit means that further crises and flashpoints are inevitable
Aidan Regan: The great known unknowns of our corporate tax receipts
Most employed people know how much income tax they will pay next year, and this predictability gives certainty to the public finances. But that is not the case when it comes to multinationals
Comment: Why investment agreements like Ceta are worth pursuing for the EU
EU investors are at greater risk in third countries, so the rationale for making investment protection a pillar of our trade policy is clear
