"Time is of the essence" to challenge the status of US debt, Castle economist urges Europe to increase joint debt issuance.

A castle investment economist said that Europe must increase joint debt issuance to create "regional safe assets" that can rival US Treasuries. Ubide stated that in order to enhance the attractiveness of European capital markets to investors, a portion of member states' government bonds should be converted into debt instruments jointly issued by the EU. This is a policy recommendation proposed and put into writing by him and former Chief Economist of the International Monetary Fund, Olivier Blanchard.