  A new device to generate polarization-entangled light in the continuous
variable regime is introduced. It consists of an Optical Parametric Oscillator
with two type-II phase-matched non-linear crystals orthogonally oriented,
associated with birefringent elements for adjustable linear coupling. We give
in this paper a theoretical study of its classical and quantum properties. It
is shown that two optical beams with adjustable frequencies and well-defined
polarization can be emitted. The Stokes parameters of the two beams are
entangled. The principal advantage of this setup is the possibility to directly
generate polarization entangled light without the need of mixing four modes on
beam splitters as required in current experimental setups. This device opens
new directions for the study of light-matter interfaces and generation of
multimode non-classical light and higher dimensional phase space.
