Wybrane uwarunkowania wykorzystania złota jako zabezpieczenia obligacji skarbowych państw członkowskich Unii Europejskiej
Some Determinants of Using Gold as a Collateral for Securing EU States’ Sovereign Bonds

Summary/Abstract: The paper looks at the concept that using gold as collateral for state bonds would bring great benefits to the EU countries. The paper explains that unlike monetary interventions involving complex chains of causality and many potential unintended consequences, using gold as collateral can be simple and transparent. Gold has been used as collateral in the past and to a great extent, from at least a legal point of view, this seems to be gold’s purpose. The author argues that using gold as security for new sovereign debt issuance would provide the EU states with critical breathing space to create more permanent solutions.

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