Abstract
In light of proposals for Eurobonds, this article explores central legal features of the Eurobond proposals. Section 2 focuses on the development of the law governing sovereign bonds and assesses the potential, but limited role of international law for Eurobonds. Section 3 considers the equal treatment of bondholders, looking at the two potential sources of non-discrimination obligations for sovereign bonds and their relevance to Eurobonds. Section 4 turns to two crucial design features of Eurobonds which existing proposals mostly address only in passing: (i) which legal entity issues Eurobonds; and (ii) what form of debt mutualization Eurobonds involve.
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©2016 by De Gruyter
Articles in the same Issue
- Frontmatter
- Introduction: Eurobonds beyond Crisis Management
- The Economics and Law of Sovereign Debt and Risk Sharing: Some Lessons from the Eurozone Crisis
- Eurobonds: A Quantitative Approach
- Consequences of Different Eurobond Proposals
- Contagion in the EMU – The Role of Eurobonds with OMTs
- How Can Eurobonds Be Legally Implemented into European Law?
- Is there Life in the Old Dog Yet? Observations on the Political Economy and Constitutional Viability of Common Debt Issuing in the Euro Area
- Eurobonds: Legal Design Features
- Eurobonds Past and Present: A Comparative Review on Debt Mutualization in Europe
Articles in the same Issue
- Frontmatter
- Introduction: Eurobonds beyond Crisis Management
- The Economics and Law of Sovereign Debt and Risk Sharing: Some Lessons from the Eurozone Crisis
- Eurobonds: A Quantitative Approach
- Consequences of Different Eurobond Proposals
- Contagion in the EMU – The Role of Eurobonds with OMTs
- How Can Eurobonds Be Legally Implemented into European Law?
- Is there Life in the Old Dog Yet? Observations on the Political Economy and Constitutional Viability of Common Debt Issuing in the Euro Area
- Eurobonds: Legal Design Features
- Eurobonds Past and Present: A Comparative Review on Debt Mutualization in Europe