Gældsdynamik i eurozonen - Kan solidarisk gældshæftelse vende den negative gældsudvikling? Debt traps in the eurozone – Will commom issuing of debt change the debt dynamics?

Albert Teilmann

Studenteropgave: Semesterprojekt

Abstrakt

Europe is about to get out of a deep and long recession, but the underlying structural problems remain unsolved. Public debt has risen remarkably during the crisis, especially in Southern Europe. The spread on yield curves in the eurozone has risen as well, and the southern countries can no longer issue new debt under the same interest rate as the countries in the north. High interest rates have fuelled a negative debt dynamic, which has to be addressed if the eurozone is to stay intact. This thesis will analyze which economic factors influences the debt, and thereby assess whether a larger degree of financial risk sharing can be institutionalized to turn the current negative debt development around. It is concluded that common issuing of debt (eurobonds) in the eurozone will have a positive impact on the interest rate in the most vulnerable economies. The Northern European countries are likely to experience a minor increase in the interest rate. If Eurobonds are to be introduced it is of critical importance to the countries that carries the largest burdens that the system gives incentive to financial discipline, so the concept of free-riding is avoided.

UddannelserForvaltning, (Bachelor/kandidatuddannelse) Bachelor el. kandidat
SprogDansk
Udgivelsesdato19 jun. 2014
VejledereJesper Jespersen

Emneord

  • EU
  • eurobonds
  • makroøkonomi
  • gældsdynamik