‘Coronabonds’ Could Bail Europe Out, Tie It Together

Like every other region of the world, Europe is facing an economic crisis, unleashed by a global pandemic. What’s unique in the region is how the crisis has led to a renewed push for a never-before-tried financial tool — now aptly renamed “coronabonds.” While politically divisive, these pooled debt securities could help overcome one of the biggest hurdles faced by the European Union: how to drive more financial integration and risk-sharing across the continent.