Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-467-750"
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"en.20120214.21.2-467-750"2
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"The Green Paper on the feasibility of introducing stability bonds assesses the feasibility of the common issuance of sovereign bonds among euro area Member States and the conditions required. Sovereign issuance in the euro area is currently conducted by Member States on a decentralised basis, using various issuance procedures. The introduction of commonly issued stability bonds would mean a pooling of sovereign issuance among the Member States and a sharing of associated revenue flows and debt-servicing costs. This would significantly alter the structure of the euro area sovereign bond market, which is the largest segment in the euro area financial market as a whole. The intensification of the euro-area sovereign debt crisis has triggered a wider debate on the feasibility of common issuance. A significant number of political figures, market analysts and academics have promoted the idea of common issuance as a potentially powerful instrument to address liquidity constraints in several euro area Member States. The common issuance of Stability Bonds would also require a further move towards a common economic and fiscal policy. The Commission should declare the preliminary results of the consultations on stability bonds mentioned in the Green Paper, and on the further steps it plans to take based on the public consultation on its Green Paper. I am personally of the firm opinion that the introduction of common bonds is one of the key points in combating the current crisis. I therefore hope that decisive steps will be taken in this direction."@en1
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