Debt mutualisation: Lessons from the US

Debt mutualisation lessons from the US

david-rowe

Some proponents of mutualising debt through eurobonds, with joint and several liability of all members, point to a famous episode in US history for support. Shortly after the federal constitution replaced the much looser articles of confederation, Alexander Hamilton, first secretary of the Treasury, sought to have the federal government assume the remaining revolutionary war debts of the individual states. He was successful in gaining congressional approval, but only after much controversy.

The

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here