Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung
Following the 2011 proposal made by the "five wise economists" from the German Council of Economic Experts, Guy Verhofstadt, leader of the liberal ALDE group in the European Parliament, suggested creating a European collective redemption fund. It would mutualise eurozone debt above 60%, combining it with a bold debt reduction scheme for countries not on life support from the EFSF.