The European Commission launched a 20 billion eurobond on June 15, 2021, marking a pivotal shift in its debt issuance policy. This move ended years of resistance from Germany and other EU capitals against joint debt issuance. The eurobonds were seen as essential for funding recovery efforts during the ongoing COVID-19 pandemic. In subsequent years, the economic challenges from the Russian invasion of Ukraine and sluggish growth necessitated a renewed focus on eurobonds as a crucial financial tool. The changing political dynamics in the United States have also opened up new opportunities for eurobonds in the EU.
The launch of a 10-year eurobond by the European Commission on June 15, 2021, symbolized a shift in the EU's approach towards joint debt issuance and economic collaboration.
The response to the COVID-19 pandemic saw the EU recovery funds financed by eurobonds, offering a solution to the economic challenges that Europe faced, including the looming risk of collapse.
The necessity for eurobonds grew with the Russian invasion of Ukraine, highlighting the EU's increased financing needs amid sluggish economic growth from its key member states.
The changing political landscape in the U.S. created new opportunities for eurobonds, shifting the narrative from a pandemic emergency measure to a vital economic instrument for the EU.
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