Bauer, Christian; Herz, Bernhard; Hild, Alexandra - 2011
European Monetary Union (EMU) countries. By applying an asset-backed security (ABS) approach positive implications of a common … purpose vehicle (SPV) buys a portfolio of EMU countries debt instruments (pooling) and then issues a set of subordinated … default. By contrast to propositions on Eurobonds made so far, our proposal has one major advantage: All EMU countries can …