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"We need binding debt brakes".
When young individuals face binding debt constraints, their human capital investments will be insufficiently financed by private creditors.
Asked if he would accept binding debt and deficit rules, he ducks the question.
But he is skeptical that political leaders would adopt truly binding debt limits.
Without German approval for the European banking union, Spain, too, could soon be forced into a binding debt bailout deal.
Over in euro-land, people want binding debt brakes written into constitutions, and deficit rules policed by supranational judges.
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In the past, the potential for confusion around binding debt-ceiling limits was well understood.
"The fact remains, though, that the exchange is not binding on all debt holders.
He nationalized the debt, binding the states together and creating the fluid capital markets that are today the engine of world capitalism.
In binding professionals to debt, the system also suffers.
Deficit hawks can point to limited and non-binding progress on debt reduction.
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