A working paper, published by the International Monetary Fund in July, assesses a range of proposed methods of introducing eurobonds, and says care must be taken to avoid replicating current problems or creating new ones.

The authors, Stijn Claessens, Ashoka Mody and Shahin Vallée, consider five possible paths to creating common debt issuance in Europe. The paper argues that eurobonds could help prevent the flight to safety, and may have a further impact by creating deeper and more liquid