Eurobonds: Legal Design Features
Published version
Peer-reviewed
Repository URI
Repository DOI
Change log
Authors
Waibel, Michael https://orcid.org/0000-0002-3777-8487
Abstract
In light of proposals for Eurobonds, this article explores central legal features of the Eurobond proposals. Section I focuses on the development of the law governing sovereign bonds and assesses the potential, but limited role of international law to Eurobonds. Section II considers the equal treatment of bondholders, looking at the two potential sources of non-discrimination obligations for sovereign bonds and their relevance to Eurobonds. Section III turns to two crucial design features of Eurobonds - which existing proposals mostly address only in passing: (i) which legal entity issues Eurobonds; and (ii) what form of debt mutualization Eurobonds involve.
Description
Keywords
Eurobonds, legal design, law, issuer, European Monetary Union, sovereign debt, European Debt Management Agency
Journal Title
Review of Law and Economics
Conference Name
Journal ISSN
2194-6000
1555-5879
1555-5879
Volume Title
12
Publisher
Walter de Gruyter