Semantic Scholar
Open Access
2013
340 sitasi
The Greek Debt Restructuring: An Autopsy
Jeromin Zettelmeyer
Christoph Trebesch
Mitu Gulati
Abstrak
The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief – over 50 per cent of 2012 GDP – with minimal financial disruption, using a combination of new legal techniques, exceptionally large cash incentives, and official sector pressure on key creditors. But it did so at a cost. The timing and design of the restructuring left money on the table from the perspective of Greece, created a large risk for European taxpayers, and set precedents – particularly in its very generous treatment of holdout creditors – that are likely to make future debt restructurings in Europe more difficult.
Penulis (3)
J
Jeromin Zettelmeyer
C
Christoph Trebesch
M
Mitu Gulati
Akses Cepat
Informasi Jurnal
- Tahun Terbit
- 2013
- Bahasa
- en
- Total Sitasi
- 340×
- Sumber Database
- Semantic Scholar
- DOI
- 10.1111/1468-0327.12014
- Akses
- Open Access ✓