In this @Bruegel_org piece, @GBonfantiEcon (a fabulous @Columbia_Biz @columbia_econ PhD student) and I show that, since @ecb stopped buying, none of the different EU debt is treated a safe asset-in spite of joint and several liability from EU countries. https://www.bruegel.org/blog-post/do-financial-markets-consider-european-common-debt-safe-asset

🐦🔗: https://n.respublicae.eu/lugaricano/status/1600912955931242497