Cœuré mulls advantages and problems of GDP-linked bonds
ECB board member says bonds could protect taxpayers but pricing might be difficult
Benoît Cœuré said that states might start issuing GDP-linked bonds as part of a reform of international capital flows, but cautioned policy-makers to consider the instruments' possible disadvantages.
Cœuré, a European Central Bank executive board member, called for major reforms of financial globalisation to make it "efficient, enduring and equitable", in a speech in Paris on September 15.
Policy-makers needed to improve the quality of capital flows, he said, so that they "tilted away from short
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