Eurobond : 'Yes, We Can!' (Eurobond: 'Si può fare')

This paper explores a potential new exit strategy from the sovereign debt crisis affecting European countries since 2010. The proposal is based on the securitization of sovereign debt and the transfer of its surer tranche to a bond at the European level with jointly responsibility between country members, the Eurobond. Mixing economic concepts differently from other similar proposals, this (perfectible) exit strategy is convenient, feasible and worthy to be realized. From a financial viewpoint, it would be the greater innovation from the introduction of Euro. From a fiscal viewpoint, it could lead gradually to the political union of Eurozona avoiding the scepticism of more virtuous countries. The idea can be applied also at the national level to debts of local administrations: the mutual monitoring between partners and the threat of exclusion to future issues could inventive virtuous behaviors reducing sovereign debt endogenously