Issuing 1% of GDP per year for ten years would leave roughly 10% of GDP outstanding — adding €1.5 to €2 trillion over the decade to both European defense capabilities and the depth of European financial markets.

forecastpending

Speaker

Moritz Schularick

Evidence Quote

adds one and a half trillion or even more two trillion over the next decade not only to European defense capabilities and and spending but also to the depth of uh European financial markets.

Source

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

My Notes

Loading notes...