This paper discusses the legal framework for sovereign debt restructuring in the Euro area – both de lege lata and de … restructuring in the euro area. This includes an analysis on whether and how the procedures for sovereign debt restructuring in the … euro area can be made more orderly, fair, and predictable by establishing a European Sovereign Debt Restructuring Framework …

macroeconomic and legal factors influence the choice of haircut. Our model contributes to the debate on sovereign debt restructuring …

costs induced. We analyze the favorability of debt restructuring using the method of differential investment and provide …

implausibility of fiscal union as given, and argue that debt restructuring can be a close substitute to a fiscal union, leading to … across countries, the debt restructuring plan designs the bankruptcy rules, but it allows the invisible hand of the markets …, Peiris and Tsomocos (2018) and Wang (2019). The authors show that debt restructuring is particularly vital in currency unions …