Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises

Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises

Guzman, Martin
Stiglitz, Joseph E.
Ocampo, José Antonio

Hardcover

Series: Initiative for Policy Dialogue at Columbia: Challenges in De

Investing & FinanceGeneral LawGeneral Political Science

ISBN10: 023117926X
ISBN13: 9780231179263
Publisher: Columbia Univ Pr
Published: May 10 2016
Pages: 312
Weight: 1.24
Height: 1.10 Width: 5.90 Depth: 9.10
Language: English

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.

Also in

General Political Science

View All