Staff Papers are analyses, method descriptions and other professional contributions prepared by employees of Danmarks Nationalbank. Staff Papers are approved by the relevant Head of Department. The content expresses only the authors' own conclusions and should not be construed as an expression of Danmarks Nationalbank's opinion.
Safe assets in Europe
Common European safe assets are highlighted in the Draghi report on EU competitiveness and by several economists as a tool to support financial integration and economic growth in Europe. However, the volume of safe assets issued in Europe is currently relatively low, which limits their potential role. On the one hand, a common European safe asset could support cheaper average financing of investment across Europe as well as the euro’s international role as a reserve currency, while on the other hand have potential consequences for fiscal sustainability and incentive structures in the EU.
Staff Papers are analyses, methodological descriptions, and other professional contributions prepared by employees of Danmarks Nationalbank. The content solely reflects the authors' own conclusions and should not be interpreted as representing the views of Danmarks Nationalbank.