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, namely the existence of multiple potential payers. Then, through a historical precedent, the 1918 Russian repudiation, the …
Persistent link: https://www.econbiz.de/10005523527
. Unlike in countries involved in WWII, this market was unregulated. The outbreak of World War II heavily depressed prices of … substantially. The battle of Stalingrad turns out indeed to be a turning-point of the war. This approach represents a complementary …
Persistent link: https://www.econbiz.de/10001638243
Austria traded on the Swiss bourse during WWII. Some war events that are generally considered crucial are clearly reflected in … government bond prices. This holds, in particular, for the official outbreak of the war and the loss and gain of national …
Persistent link: https://www.econbiz.de/10013320984
The 1953 London Debt Agreement settled Germany's debts from the period between the two world wars, and allowed the country to re-establish its role in international capital markets. The Agreement wrote-down the overall debt by about 50 percent and gave the debtors a much longer period to repay....
Persistent link: https://www.econbiz.de/10010369208
trustee. To the extent such reforms might have had a chance, World War II and its aftermath put them on hold until the turn of …
Persistent link: https://www.econbiz.de/10012985848
Two complainants brought a constitutional complaint before the German Constitutional Court. The complaint was directed against a judgement of the Federal Court of Justice (Bundesgerichtshof) that dismissed their action because the Hellenic Republic enjoyed state immunity before the German...
Persistent link: https://www.econbiz.de/10013216207
The 1953 London Debt Agreement settled Germany's debts from the period between the two world wars, and allowed the country to re-establish its role in international capital markets. The Agreement wrote-down the overall debt by about 50 percent and gave the debtors a much longer period to repay....
Persistent link: https://www.econbiz.de/10011610944
The 1953 London Debt Agreement settled Germany's debts from the period between the two world wars, and allowed the country to re-establish its role in international capital markets. The Agreement wrote-down the overall debt by about 50 percent and gave the debtors a much longer period to repay....
Persistent link: https://www.econbiz.de/10005357722
In the aftermath of World War I, a financial war was fought on the battlegrounds of international organizations and … spheres of influence. The case of the French-Hellenic war debts illustrates those issues: in the 1920s, the Greeks were barred … block its emission if the Greeks did not repay their war debts. The debt-diplomacy of the French government is an example of …
Persistent link: https://www.econbiz.de/10013411869
This paper explores how selective default expectations affect the pricing of sovereign bonds in a historical laboratory: the German default of the 1930s. We analyze yield differentials between identical government bonds traded across various creditor countries before and after bond market...
Persistent link: https://www.econbiz.de/10014495920