Cœuré sets out sovereign debt reform ideas as Weidmann strengthens call to end QE
Cœuré floats possibility of senior and subordinated sovereign debt instruments for eurozone
Benoît Cœuré of the European Central Bank's (ECB) executive board, has floated ideas for radical change to the handling of eurozone sovereign debt. Sovereign debt issued by eurozone governments was "exposed to credit risk in a way other advanced economies are not", Cœuré argued.
This was "by design", he said in a speech in Massachusetts on November 3. The Treaty of the European Union contains a "no bailout" clause that was "deliberately intended to encourage markets to differentiate between euro
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