Miller, Marcus; Zhang, Lei - C.E.P.R. Discussion Papers - 2014
ECB, some have proposed the consolidation of sovereign debt into Eurobonds backed by a supranational agency. Specifically …, we propose the creation of a Special Purpose Vehicle (SPV) which issues Eurobonds and holds both plain vanilla sovereign … debt and newly created state-contingent bonds. This offers, we believe, a desirable complement to the ‘Draghi put’. …