EU’s topchefer diskuterer i ministerrådet i denne uge, hvordan coronakrisen skal finansieres på fælles europæisk plan. BNP Paribas ser flere finansieringsmuligheder. Euro-obligationer – coronabonds – kommer næppe på bordet, men andre løsninger vil have næsten sammen resultat. Det kan dog betyde, at tiden bliver forpasset for hele ideen med fælles EU-obligationer.
Uddrag fra BNP Paribas:
European Council preview: Funding the recovery?
The “recovery fund” that the European Council will discuss this week could be a game changer for the eurozone’s economic outlook, but the range of possible outcomes is wide.While we think Eurobonds are unlikely to be introduced in the near term, the recovery fund could, in principle, achieve similar results.
The way the fund’s proceeds will be distributed between member states will be crucial for burden sharing. For the debt sustainability of individual countries, this may be just, if not more, important than the overall size of the fund, we argue.
While we expect some form of debt mutualisation to be introduced eventually, we see a risk that political momentum towards mutualisation may be lost.
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