President Barroso, in agreement with VP Rehn, launches Expert Group on debt redemption fund and eurobills - Graham Bishop member

02 July 2013

The Commission is setting up an Expert Group to look into the merits and risks, legal requirements and financial consequences of initiatives for the joint issuance of debt in the form of a redemption fund and eurobills. Graham Bishop has already proposed and crafted the 'Temporary Eurobill Fund'.

During a debate in the European Parliament in Strasbourg today, President Barroso said: "I would like to announce that, following our commitment to the European Parliament as part of the overall agreement on the Two-Pack, the Commission is now setting up an Expert Group to look into the merits and risks, legal requirements and financial consequences of initiatives for the joint issuance of debt in the form of a redemption fund and eurobills.

The members of the group, chaired by Ms. Gertrude Tumpel-Gugerell – a former member of the executive board of the ECB – combine impressive expertise and varied background and will, I trust, provide invaluable advice on these very complex issues from a political, economic and legal point of view."

This group is set up in agreement with Vice-President Olli Rehn. Its composition is as follows:

Chairperson: Ms Gertrude Tumpel-Gugerell

Members:

• Ms Agnes Benassy
• Mr Vitor Bento
• Mr Graham Bishop
• Ms Claudia Buch
• Mr Leonardus (Lex) Hoogduin
• Mr Jan Mazak
• Ms Belen Romana
• Ms Ingrid Simonyte
• Mr Vesa Vihriälä
• Ms Beatrice Weder di Mauro

Secretary of the Expert Group: Mr Clemens Ladenburger

Press release

Further information

Plan for a Temporary Eurobill Fund

Click here for Graham's comments

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