EU debt vs national debts: friends or foes?
The EU will become into a major issuer of safe assets in the coming years. How will this interact with the debt issuance of European sovereign debts?
Speakers
Gert Jan Koopman
Director General, DG NEAR, European Commission
Pablo de Ramón-Laca
Director General of the Spanish Treasury,
Yves Jacob
Global Head of Public Sector Coverage, Société Générale
Imène Rahmouni-Rousseau
Director General of Market Operations, European Central Bank
Video and audio recordings
The EU is going to issue up to €750 billion to finance its recovery plan (including a third in Green Bonds). The Commission has issued its first debt securities for NextGenerationEU in June 2021, and plans to issue up to €150-200 billion per year over the period to end in 2026. This will transform the EU into one of the major issuer of safe assets in the coming years. How will the EU approach this? How will that interact with the debt issuance of European sovereign debts? What will be the impact of issuing a third Green bonds?
At this event we discussed those issues with speakers from the European Commission, representatives of national debt agencies from various EU countries, as well as from market participants and from the Eurosystem.
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