Second approach: Partial substitution of national issuance with stability bonds with several and joint guarantees reinforced with other guarantees

In the second case, the Commission suggested (i) assigning some countries senior status in stability bond issuance, (ii) backing up issuances with collateral such as gold, shares in public companies, etc., and (iii) devoting parts of governments’ revenue streams to payment of these bonds (see the blue bonds proposal (Delpla) mentioned above).