Always interesting when some heavyweights are
fighting it out. My main answer to the problems with the Euro is simple: one should never have embarked on this half-baked - and undemocratic - experiment. But to advocate Euro-Bonds as the solution is overlooking one important risk: what would happen if one of the member countries would want to leave the Eurozone after a large volume of these bonds has been created? Would we see the equivalent of the American Civil War in order to bring a recalcitrant nation to heel if the citizens are unwilling to continue to shoulder the burden created by profligate states?
