Report on co-ordinated issuance of public debt in the euro area. Report of the Giovannini Group

This report considers four hypotheses for more co-ordinated issuance of public debt in the euro area. It has been prepared by a group of financial experts offering advice to the European Union on capital market integration in EMU chaired by Alberto Giovannini. In assessing the hypotheses, the report distinguishes between arrangements that could be agreed without legal or institutional changes and those that would require such changes.