A Debt Restructuring Mechanism for Sovereigns: Do We Need a Legal Procedure?

A Debt Restructuring Mechanism for Sovereigns: Do We Need a Legal Procedure?

by Christoph G. Paulus

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The Eurozone crisis which started in spring 2010 as a Greek budget crisis has alerted Europeans that the issue of defaulting sovereigns is not one reserved just for the poor and poorest countries on this globe. The crisis painfully amplified that developed countries, too, might be hit by this phenomenon. To be sure, this insight is far from novel - the history of defaulting states reaches back into history for at least two millennia. And yet, lawyers have surprisingly abstained more or less completely from discussing this subject and developing possible solutions. Beginning with the Argentina crisis in 2001, this neglect began to vanish to a certain degree and this movement got some momentum in 2010 by the Eurozone crisis.

The present book collects contributions from authors most of whom have participated in a conference on this issue in January 2012 at the Humboldt-Universität zu Berlin. The presentations, thus, provide a unique overview of the present discussion both from an economic and legal perspective.

Product Details

ISBN-13: 9781849468206
Publisher: Bloomsbury Publishing
Publication date: 12/01/2014
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 304
File size: 3 MB

About the Author

Christoph G Paulus is Professor at the Humboldt-Universität, Berlin.

Table of Contents

Chapter 1: The Historical Experience and Economics of Sovereign Debt
Chapter 2: Current Measures for Dealing with Sovereign Debt – An Ad-Hoc Machinery?
Chapter 3: Dealing with Future Sovereign Debt Crises
Chapter 4: International Survey – Learning from International Precedents A. Sovereign Debt and Exclusions from Insolvency Proceedings

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