Back to more market: self-stabilizing bonds

In his article Wolfgang von Eichborn, Bundesfinanzhof (federal fiscal court), proposes the concept of “self-stabilizing” bonds, which shifts responsibility for the financing and consolidation requirements of high-debt countries, and even those with excessive debts, back to the interplay of those who seek and provide credit in the market. In his opinion the market is indispensable as a control instrument. The way out of the public debt crisis therefore must lie in “more market” and not “less market.”