An electronic phase with coexisting magnetic and ferroelectric order is predicted for graphene ribbons with zigzag edges. The electronic structure of the system is described with a mean-field Hubbard model that yields results very similar to those of density functional calculations. Without further approximations, the mean-field theory is recasted in terms of a BCS wave function for electron-hole pairs in the edge bands. The BCS coherence present in each spin channel is related to spin-resolved electric polarization. Although the total electric polarization vanishes, due to an internal phase locking of the BCS state, strong magnetoelectric effects are expected in this system. The formulation naturally accounts for the two gaps in the quasiparticle spectrun, Δ0 and Δ1, and relates them to the intraband and interband self-energies.This work has been financially supported by MEC-Spain (Grant No. MAT2007-65487 and Ramon y Cajal Program), by Generalitat Valenciana (No. Accomp07-054), by Consolider (No. CSD2007-0010), and, in part, by FEDER funds
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