Graham Bishop's blog: A two-year refinancing for all € bill/most bond maturities until 2013 - An “EMU Bond Fund” Proposal from ELEC

Graham Bishop and Wim Boonstra presenting the proposal to EC President, Herman van Rompuy

Graham Bishop acted as Rapporteur for this report. The modest proposal is designed to provide a limited degree of mutual support that will be sufficient to allow adequate time to States that are themselves trying to restore their competitiveness. Then they can demonstrate to their creditors that the first fruits of good policies are visible, and that the policies are entrenched into their political structure in a way that limits the risk of sudden reversal.

If the eurozone demonstrates that it  is on track to meet these initial economic (and political) goals of renewed competitiveness and sound public finance,  then its individual members will have a compelling story to tell the investors of the world.

Full text; Timeline and 3 Scenarios: click here.