PaulDEGrauweof the University of Leuvensays that ifBritaincouldn't roll over its debtatacceptableinterest rates, itcouldultimatelyforce the Bank of England to buyit.
By pooling risk, Eurobonds could be a more durable counter to such destabilising liquidity crises, argues PaulDeGrauwe, an economist at the Catholic University of Leuven, in Belgium.