A European Safe Asset? Perceptions from France and Germany

A common European safe asset is a highly contentious proposal in the Euro area reform agenda. While some policymakers see it as a promising tool, others consider it a threat to the financial stability it aims to improve. In this paper, Kris Best explains the policy rationale of a European safe asset and analyses how the debate is viewed differently in France and Germany based on interviews with economic policymakers in each country.

Image: CC Dominik Bartsch, source: flickr.com