The long road of Eurobonds

Eurobonds? Not today, maybe tomorrow, but the day after tomorrow … The temptation to use Giorgio Gaber and close the debate on the common European debt here is strong. But, in yesterday’s press conference, Mario Draghi – without hiding the complexities of the path – left an opening: “I know the road is long, but we have to start walking. It is a long-term goal, but it is important to have a political commitment“. With the Next Generation Eu, in fact, Europe has taken a huge step forward: for the first time the northern states, typically hostile to the idea of ​​a common debt, have endorsed the issuance of bonds by the EU to finance expenses of common interest. Of course, this is an extraordinary intervention, in support of the countries most affected by the coronavirus. In the beginning, however, it could be the first piece of a more complicated puzzle. And this is where the political work of Draghi and other favorable leaders comes in, if they intend to consolidate and make permanent the package just introduced.