National defense is the natural way into European joint debt issuance, because it provides a shared rationale that overcomes the usual reluctance toward mutualized debt.

normativepending

Speaker

Maurice Obstfeld

Evidence Quote

national defense would be the way into joint issuance. And again this the the the logic is there.

Source

The changing dollar regime: An updatePeterson Institute for International Economics
Created: 6/18/2026, 1:57:48 PM

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