{"id":6027,"date":"2013-10-18T09:51:38","date_gmt":"2013-10-18T06:51:38","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=6027"},"modified":"2013-10-18T09:59:32","modified_gmt":"2013-10-18T06:59:32","slug":"the-greek-debt-restructuring-an-autopsy","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/the-greek-debt-restructuring-an-autopsy\/","title":{"rendered":"The Greek Debt Restructuring: An Autopsy"},"content":{"rendered":"<p>Zettelmeyer, Jeromin, Trebesch,\u00a0 Christoph &amp; Gulati, Mitu.<\/p>\n<p>The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief\u2014over 50 percent of 2012 GDP\u2014with 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\u2014particularly in its very generous treatment of holdout creditors\u2014that are likely to make future debt restructurings in Europe more difficult.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae:<\/strong> Peterson Institute for International Economics<\/p>\n<p><a href=\"http:\/\/www.iie.com\/publications\/wp\/wp13-8.pdf\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zettelmeyer, Jeromin, Trebesch,\u00a0 Christoph &amp; Gulati, Mitu. The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief\u2014over 50 percent of 2012 GDP\u2014with minimal financial disruption, using a combination of new legal techniques, exceptionally large cash incentives, and official sector pressure on key creditors. But it [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,32,4],"tags":[26,27],"class_list":["post-6027","post","type-post","status-publish","format-standard","hentry","category-19","category-32","category-proposals","tag-26","tag-27"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/6027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=6027"}],"version-history":[{"count":2,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/6027\/revisions"}],"predecessor-version":[{"id":6036,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/6027\/revisions\/6036"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=6027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=6027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=6027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}