The new ‘Eurobond’ – the eurozone’s last hope?
As Europe’s sovereign debt woes deepen, markets are increasingly speculating over the need for a new ‘Eurobond’, guaranteed by all euro member states. Tanuj Khosla from 3 Degrees Asset Management looks at how such a bond might work
‘The market is made up of intelligent fools’ is a fair conclusion to reach if you are a long-serving member of the hedge fund industry. Fool because the participants follow a herd mentality, and intelligent as it is not easy to bluff them. We saw the fool part in early August, when markets tanked on fears about the US’s recovery prospects and Europe’s sovereign debt crisis. In the next few weeks, we are sure to see the market’s intelligent side as it closely scrutinises the EU’s endeavours to
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