I am in Portugal, for the time being Euroland, and the main event we want to secure against is some sort of Euro breakup.
Lars Kroijer in Investment Demystified suggest Bunds, and I found exactly one ETF: SDEU.
The main alternative to me would be a Euro-hedged World Government Bond ETF, e.g DBDZ. I would think the latter gives better diversification for extreme events, against a (very) small cost. At the other hand, some of the bonds are slightly lower rated (higher risk) which should give a slightly higher return.
Your thoughts? All much the same, or? Any other to consider?