欧洲央行-或有可转换债务:是什么,应该是什么(英)-2026.1
聚焦欧洲央行-或有可转换债务:是什么,应该是什么(英)-2026.1。Due to the increase in financial distress, the worse value for the government is in the scenario with CoCos. In good times the government prefers equity because it delays the abandonment. In bad times it prefers debt.CoCos have gained increased popularity due to various factors such as (i) need to recapitalize banks。