Zettelmeyer, Jeromin; Trebesch, Christoph; Gulati, Mitu - 2013 - This draft: July 5, 2013
The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief - over 50 per cent of 2012 GDP - with minimal financial disruption, using a combination of new legal techniques, exceptionally large cash incentives, and official sector...