Eurobonds
a.k.a. Eurobond
Bonds issued in a currency other than that of the country where they are sold; also used for proposed…
In plain English
Bonds issued in a currency other than that of the country where they are sold; also used for proposed jointly backed eurozone debt.
Traditionally, a eurobond is a bond sold outside the country of its currency: for example, a dollar bond issued in London. The 'euro' prefix is historical and has nothing to do with the euro currency.
During the eurozone crisis, 'Eurobonds' also came to mean debt jointly guaranteed by all euro members, an idea long resisted by stronger economies. The EU's joint borrowing for its pandemic recovery fund brought the idea a step closer.
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