The Library
Eurozone sovereign debt restructuring : keeping the vultures at bay
Tools
Miller, Marcus and Thomas, D. (2013) Eurozone sovereign debt restructuring : keeping the vultures at bay. Oxford Review of Economic Policy, Volume 29 (Number 4). pp. 745-763. doi:10.1093/oxrep/grt039 ISSN 0266-903X.
Research output not available from this repository.
Request-a-Copy directly from author or use local Library Get it For Me service.
Official URL: http://dx.doi.org/10.1093/oxrep/grt039
Abstract
The eurozone debt crisis has stimulated lively debate on mechanisms for sovereign debt restructuring. The immediate threat of exit and the break-up of the currency union may have abated; but the problem of dealing with significant debt overhang remains. After considering two broad approaches—institutional versus contractual—we look at a hybrid solution that combines the best of both. In addition to debt contracts with collective action clauses, this includes a key amendment to the Treaty establishing the European Stability Mechanism, together with innovative state-contingent contracts and a special purpose vehicle to market them.
Item Type: | Journal Article | ||||
---|---|---|---|---|---|
Divisions: | Faculty of Social Sciences > Economics | ||||
Journal or Publication Title: | Oxford Review of Economic Policy | ||||
Publisher: | Oxford University Press | ||||
ISSN: | 0266-903X | ||||
Official Date: | 2013 | ||||
Dates: |
|
||||
Volume: | Volume 29 | ||||
Number: | Number 4 | ||||
Page Range: | pp. 745-763 | ||||
DOI: | 10.1093/oxrep/grt039 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |