From The Free Forex Encyclopedia
Based on EU leaders' proposals, a Eurobond would be a collective bond issued by the 17 member nations of the euro zone.
Since it consolidates the euro zone countries' debt into a single bond, its credit rating would be substantially higher than that of the PIIGS nations but lower than Germany's triple-A rating.
The creation of Eurobonds is still up for debate as more stable economies such as Germany are strongly opposed to the idea. However, other debt-ridden nations are hopeful that Eurobonds could be a longer-term solution to the euro zone debt crisis.
Revisiting Eurobonds 25 Nov. 2011
EU Summit: Clash of the Titans 25 May 2012