Lessons from the 2012 Greek Debt Restructuring

The 2012 Greek debt restructuring was the largest one in the history of sovereign defaults. This column discusses the lessons from this historically unprecedented episode. Delaying the restructuring implied that externally held debt remained higher than it would have been otherwise. Supportive crisis management is necessary for smooth restructuring to take place in a currency […] View the full post at: Lessons from the 2012 Greek Debt Restructuring Related posts: Merkel: Europe’s Fate at Stake if Greek Debt Crisis Isn’t Contained Moody’s Cuts Ratings of Nine Greek Banks Merkel: Any Greek Bailout Must Involve IMF
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