{"id":920,"date":"2020-05-21T19:36:16","date_gmt":"2020-05-21T17:36:16","guid":{"rendered":"http:\/\/webecpol.esade.edu\/?post_type=publicaciones&#038;p=920"},"modified":"2020-11-23T15:11:57","modified_gmt":"2020-11-23T14:11:57","slug":"perpetual-bonds","status":"publish","type":"publicaciones","link":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/","title":{"rendered":"Perpetual bonds are not the best way to finance the European Recovery Fund"},"content":{"rendered":"<h2>EsadeEcPol Insight #13<\/h2>\n<p>Authorised voices propose to finance the European Recovery Fund using joint perpetual debt. In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy. From a financial point of view, financing the Recovery Fund by issuing debt with shorter maturities and transferring these low interest rates to Member States through loans with a narrow margin and very long maturities could be cheaper. Supporting the recovery through this transformation of maturities would strengthen debt sustainability across the EU.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy.<\/p>\n","protected":false},"featured_media":1781,"template":"","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Perpetual bonds are not the best way to finance the European Recovery Fund - Center for Economic Policy - EsadeEcPol<\/title>\n<meta name=\"description\" content=\"In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Perpetual bonds are not the best way to finance the European Recovery Fund - Center for Economic Policy - EsadeEcPol\" \/>\n<meta property=\"og:description\" content=\"In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy.\" \/>\n<meta property=\"og:url\" content=\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/\" \/>\n<meta property=\"og:site_name\" content=\"Center for Economic Policy - EsadeEcPol\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-23T14:11:57+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"612\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@esadeecpol\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/\",\"url\":\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/\",\"name\":\"Perpetual bonds are not the best way to finance the European Recovery Fund - Center for Economic Policy - EsadeEcPol\",\"isPartOf\":{\"@id\":\"http:\/\/webecpol.esade.edu\/es\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#primaryimage\"},\"image\":{\"@id\":\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg\",\"datePublished\":\"2020-05-21T17:36:16+00:00\",\"dateModified\":\"2020-11-23T14:11:57+00:00\",\"description\":\"In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy.\",\"breadcrumb\":{\"@id\":\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#primaryimage\",\"url\":\"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg\",\"contentUrl\":\"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg\",\"width\":1920,\"height\":612},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"http:\/\/webecpol.esade.edu\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Publicaciones\",\"item\":\"http:\/\/webecpol.esade.edu\/es\/publicaciones\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Perpetual bonds are not the best way to finance the European Recovery Fund\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/webecpol.esade.edu\/es\/#website\",\"url\":\"http:\/\/webecpol.esade.edu\/es\/\",\"name\":\"Center for Economic Policy - EsadeEcPol\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\/\/webecpol.esade.edu\/es\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Perpetual bonds are not the best way to finance the European Recovery Fund - Center for Economic Policy - EsadeEcPol","description":"In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/","og_locale":"en_GB","og_type":"article","og_title":"Perpetual bonds are not the best way to finance the European Recovery Fund - Center for Economic Policy - EsadeEcPol","og_description":"In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy.","og_url":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/","og_site_name":"Center for Economic Policy - EsadeEcPol","article_modified_time":"2020-11-23T14:11:57+00:00","og_image":[{"width":1920,"height":612,"url":"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_site":"@esadeecpol","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/","url":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/","name":"Perpetual bonds are not the best way to finance the European Recovery Fund - Center for Economic Policy - EsadeEcPol","isPartOf":{"@id":"http:\/\/webecpol.esade.edu\/es\/#website"},"primaryImageOfPage":{"@id":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#primaryimage"},"image":{"@id":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#primaryimage"},"thumbnailUrl":"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg","datePublished":"2020-05-21T17:36:16+00:00","dateModified":"2020-11-23T14:11:57+00:00","description":"In this policy insight, we argue the benefits of using borrowing and lending capacities as two separate instruments of EU policy.","breadcrumb":{"@id":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#primaryimage","url":"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg","contentUrl":"http:\/\/webecpol.esade.edu\/wp-content\/uploads\/2020\/05\/comision-europea-esadeecpol.jpg","width":1920,"height":612},{"@type":"BreadcrumbList","@id":"http:\/\/webecpol.esade.edu\/en\/publications\/perpetual-bonds\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"http:\/\/webecpol.esade.edu\/en\/"},{"@type":"ListItem","position":2,"name":"Publicaciones","item":"http:\/\/webecpol.esade.edu\/es\/publicaciones\/"},{"@type":"ListItem","position":3,"name":"Perpetual bonds are not the best way to finance the European Recovery Fund"}]},{"@type":"WebSite","@id":"http:\/\/webecpol.esade.edu\/es\/#website","url":"http:\/\/webecpol.esade.edu\/es\/","name":"Center for Economic Policy - EsadeEcPol","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/webecpol.esade.edu\/es\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"}]}},"_links":{"self":[{"href":"http:\/\/webecpol.esade.edu\/en\/wp-json\/wp\/v2\/publicaciones\/920"}],"collection":[{"href":"http:\/\/webecpol.esade.edu\/en\/wp-json\/wp\/v2\/publicaciones"}],"about":[{"href":"http:\/\/webecpol.esade.edu\/en\/wp-json\/wp\/v2\/types\/publicaciones"}],"version-history":[{"count":3,"href":"http:\/\/webecpol.esade.edu\/en\/wp-json\/wp\/v2\/publicaciones\/920\/revisions"}],"predecessor-version":[{"id":923,"href":"http:\/\/webecpol.esade.edu\/en\/wp-json\/wp\/v2\/publicaciones\/920\/revisions\/923"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/webecpol.esade.edu\/en\/wp-json\/wp\/v2\/media\/1781"}],"wp:attachment":[{"href":"http:\/\/webecpol.esade.edu\/en\/wp-json\/wp\/v2\/media?parent=920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}