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| Autore principale: | |
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| Natura: | Recurso digital |
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Zenodo
2025
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| Accesso online: | https://doi.org/10.5281/zenodo.15228812 |
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Sommario:
- <p><span lang="EN-US">This paper explores an </span><strong><span lang="EN-US">innovative financial engineering</span></strong><span lang="EN-US"> to enable Europe to </span><strong><span lang="EN-US">increase military spending</span></strong><span lang="EN-US"> without overburdening national budgets or violating legal constraints: </span><span lang="EN-GB">leveraging frozen Russian assets as collateral to create a €1 trillion European Defence and Reconstruction Fund. Rather than outright confiscation—an approach fraught with legal and diplomatic risks—the proposed mechanism would use the €200 billion in Russian central bank reserves currently held in the EU to back large-scale debt issuance. By issuing European Defence and Reconstruction Bonds with a 5:1 leverage ratio, the EU could generate immediate liquidity of up to a trillion Euros, while keeping the assets technically frozen.</span></p>