Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises
The current approach to resolving sovereign debt crises does not work: sovereign debt restructurings come too late and address too little. Though unresolved debt crises impose enormous costs on societies, many recent restructurings have not been deep enough to provide the conditions for economic rec...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
New York, NY
Columbia University Press
[2017]
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| Schlagworte: | |
| Online-Zugang: | FHA01 FKE01 FLA01 UBG01 UPA01 FAW01 FAB01 FCO01 URL des Erstveröffentlichers |
| Zusammenfassung: | The current approach to resolving sovereign debt crises does not work: sovereign debt restructurings come too late and address too little. Though unresolved debt crises impose enormous costs on societies, many recent restructurings have not been deep enough to provide the conditions for economic recovery (as illustrated by the Greek debt restructuring of 2012). And if the debtor decides not to accept the terms demanded by the creditors, finalizing a restructuring can be slowed by legal challenges (as illustrated by the recent case of Argentina, deemed as "the trial of the century"). A fresh start for distressed debtors is a basic principle of a well-functioning market economy, yet there is no international bankruptcy framework for sovereign debts. While this problem is not new, the United Nations and the global community are now willing to do something about it. Providing guidance for those who intend to take up reform, this book assesses the relative merits of various debt-restructuring proposals, especially in relation to the main deficiencies of the current nonsystem. With contributions by leading academics and practitioners, Too Little, Too Late reflects the overwhelming consensus among specialists on the need to find workable solutions |
| Beschreibung: | 1 online resource |
| ISBN: | 9780231542029 |
| DOI: | 10.7312/guzm17926 |
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| 520 | |a The current approach to resolving sovereign debt crises does not work: sovereign debt restructurings come too late and address too little. Though unresolved debt crises impose enormous costs on societies, many recent restructurings have not been deep enough to provide the conditions for economic recovery (as illustrated by the Greek debt restructuring of 2012). And if the debtor decides not to accept the terms demanded by the creditors, finalizing a restructuring can be slowed by legal challenges (as illustrated by the recent case of Argentina, deemed as "the trial of the century"). A fresh start for distressed debtors is a basic principle of a well-functioning market economy, yet there is no international bankruptcy framework for sovereign debts. While this problem is not new, the United Nations and the global community are now willing to do something about it. Providing guidance for those who intend to take up reform, this book assesses the relative merits of various debt-restructuring proposals, especially in relation to the main deficiencies of the current nonsystem. With contributions by leading academics and practitioners, Too Little, Too Late reflects the overwhelming consensus among specialists on the need to find workable solutions | ||
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| spelling | Guzman, Martin Verfasser aut Too Little, Too Late The Quest to Resolve Sovereign Debt Crises Martin Guzman, José Antonio Ocampo, Joseph E. Stiglitz New York, NY Columbia University Press [2017] 1 online resource txt rdacontent c rdamedia cr rdacarrier The current approach to resolving sovereign debt crises does not work: sovereign debt restructurings come too late and address too little. Though unresolved debt crises impose enormous costs on societies, many recent restructurings have not been deep enough to provide the conditions for economic recovery (as illustrated by the Greek debt restructuring of 2012). And if the debtor decides not to accept the terms demanded by the creditors, finalizing a restructuring can be slowed by legal challenges (as illustrated by the recent case of Argentina, deemed as "the trial of the century"). A fresh start for distressed debtors is a basic principle of a well-functioning market economy, yet there is no international bankruptcy framework for sovereign debts. While this problem is not new, the United Nations and the global community are now willing to do something about it. Providing guidance for those who intend to take up reform, this book assesses the relative merits of various debt-restructuring proposals, especially in relation to the main deficiencies of the current nonsystem. With contributions by leading academics and practitioners, Too Little, Too Late reflects the overwhelming consensus among specialists on the need to find workable solutions In English Internationales Recht Debts, Public Financial crises International law Monetary policy Schuldentilgung (DE-588)4270478-9 gnd rswk-swf Öffentliche Schulden (DE-588)4043153-8 gnd rswk-swf Währungspolitik (DE-588)4064152-1 gnd rswk-swf Öffentliche Schulden (DE-588)4043153-8 s Währungspolitik (DE-588)4064152-1 s Schuldentilgung (DE-588)4270478-9 s 1\p DE-604 Ocampo, José Antonio Sonstige oth Stiglitz, Joseph E. Sonstige oth https://doi.org/10.7312/guzm17926 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Guzman, Martin Too Little, Too Late The Quest to Resolve Sovereign Debt Crises Internationales Recht Debts, Public Financial crises International law Monetary policy Schuldentilgung (DE-588)4270478-9 gnd Öffentliche Schulden (DE-588)4043153-8 gnd Währungspolitik (DE-588)4064152-1 gnd |
| subject_GND | (DE-588)4270478-9 (DE-588)4043153-8 (DE-588)4064152-1 |
| title | Too Little, Too Late The Quest to Resolve Sovereign Debt Crises |
| title_auth | Too Little, Too Late The Quest to Resolve Sovereign Debt Crises |
| title_exact_search | Too Little, Too Late The Quest to Resolve Sovereign Debt Crises |
| title_full | Too Little, Too Late The Quest to Resolve Sovereign Debt Crises Martin Guzman, José Antonio Ocampo, Joseph E. Stiglitz |
| title_fullStr | Too Little, Too Late The Quest to Resolve Sovereign Debt Crises Martin Guzman, José Antonio Ocampo, Joseph E. Stiglitz |
| title_full_unstemmed | Too Little, Too Late The Quest to Resolve Sovereign Debt Crises Martin Guzman, José Antonio Ocampo, Joseph E. Stiglitz |
| title_short | Too Little, Too Late |
| title_sort | too little too late the quest to resolve sovereign debt crises |
| title_sub | The Quest to Resolve Sovereign Debt Crises |
| topic | Internationales Recht Debts, Public Financial crises International law Monetary policy Schuldentilgung (DE-588)4270478-9 gnd Öffentliche Schulden (DE-588)4043153-8 gnd Währungspolitik (DE-588)4064152-1 gnd |
| topic_facet | Internationales Recht Debts, Public Financial crises International law Monetary policy Schuldentilgung Öffentliche Schulden Währungspolitik |
| url | https://doi.org/10.7312/guzm17926 |
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