Eurozone is a horrible term to use here, as some nations are pegged to the Euro or have adopted it with no issuing rights or have promised to adopt it. We are talking about specifically about EU governments with partial issuing rights that sell Euro-denominated debt. Like Germany.
One risk (of many different kinds of financial risk) with buying debt denominated in Euros from EU governments is that if such a nation is economically worse off than the others nations that also have Euro issuing rights at the time of bond maturity, then the chance of default goes up substantially. As happened quite recently with Greece.
This is not a type of risk faced with nations with their own sovereign currencies. Default is still possible, but devaluation is a safety valve.
One risk (of many different kinds of financial risk) with buying debt denominated in Euros from EU governments is that if such a nation is economically worse off than the others nations that also have Euro issuing rights at the time of bond maturity, then the chance of default goes up substantially. As happened quite recently with Greece.
This is not a type of risk faced with nations with their own sovereign currencies. Default is still possible, but devaluation is a safety valve.