Tag Archives: JEF

How Eurobonds are the way forward

Market pressures on ailing Euro-zone countries persist and the Merkels and Sarkozys struggle to find an answer. The latest hype gaining ground is the idea of Eurobonds. These would be jointly issued bonds by all Euro-zone (or even EU) governments to finance government debt by national (or sub-national) governments.

Ironically, I remember several interesting discussions with my Italian federalist friends who have always lobbied within JEF and UEF to support the introduction of Eurobonds – to allow the EU (budget) to run deficits primarily for EU-wide infrastructure projects. I have always (and continue to) oppose this idea because I think we do not need another layer of debt  in the EU while there is sufficient room for mobilising funds to invest in EU-wide infrastructure projects from the ineffective CAP and structural policy – and where necessary also from national coffers. While the financing mechanism for these Eurobonds would be the same, the current discussion is promoting Eurobonds on a very different level.

Eurobonds to solve the debt crisis

Eurobonds as advocated these days are seen as a tool to lower borrowing costs for peripheral Eurozone countries (Greece, Ireland etc.) who struggle with run-away interest rates on newly issued debt. They are practically cut off from the market, hence EU intervention mechanisms like the EFSF are now used to finance their debt. In some ways the EFSF is not so much different from the Eurobonds discussed today except the fact that the EFSF is primarily seen as a crisis intervention – and not a permanent – vehicle. Because (just like with the EFSF) Eurobond debt is guaranteed by countries like Germany or the Nordics borrowing is cheaper for such jointly guaranteed Eurobonds. So, why should we not issue Eurobonds Continue reading

Campaigning in Ireland: Dublin this week

European Youth for an Irish YES

Ireland has the choice. This Thursday the people of Ireland will be the only EU citizens voting directly on the adoption of the Lisbon Treaty. According to the latest opinion polls, the outcome is in no way clear. Therefore, I have decided to go to Ireland and try to convince some of the many undecided voters. To vote. And to vote in favour.

My initiative is a part of the wider “European Youth for an Irish YES” campaign of which JEF is a partner.

Europe United – à la francaise

The federalist anthem “Europe United” performed by some federalists and a youth theatre group in Grenoble – wonderful. Europe à la francaise: decication, soul, inspiration, theatre… This video is sooooo great!

Check it out here.

Credits to Spinelli for having spent some of his best years on Ventotene and coming up with the famous manifesto there… to the Italian federalists for organising a fantastic seminar there each Septemer, to Anders, Jon and Malena for being inspired by this and writing Europe United – and to JEF France for lip serving to the federalist anthem together with the youth theatre of Grenoble! Fantastic.