Covid-induced Eurobonds mark step towards EU financial cohesion
Successful issuance points to greater pan-European sharing of risk
Covid-19 caused a plethora of economic storm clouds across Europe when it emerged more than four years ago. Yet European Union measures to support employers and promote post-pandemic recovery have provided a silver lining of sorts for the continent’s financial markets.
By the end of 2020, the Support to Mitigate Unemployment Risks in an Emergency (Sure) programme had raised €100 billion through a Eurobond issuance. A separate Eurobond issuance also enabled the Next Generation EU (NGeU) scheme to
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