Eurobonds are not a solution for the immediate challenges and difficulties faced by the euro area, even though they may be part of a medium term solution. The Eurobonds idea is appealing and brings to the forefront an important feature of European integration: “solidarity”. However, the issuance of Eurobonds raises many political, legal and technical questions which need to be analyzed further.
Stability and solidarity will not endure without prosperity Restoring stable macroeconomic conditions in the individual Member States and setting-up effective solidarity mechanisms to preserve the cohesion of the euro area and the EU are necessary conditions to overcome the current crisis.