article, we use the case of a hypothetical euro area country (Italy) with a large debt stock and a known vulnerability to … confidence crises to set forth its options, as of 2019, to anticipate a possible future debt restructuring. It can: do nothing …

This paper analyzes the causes of the sovereign debt crisis in the eurozone and examines the policy alternatives …

This paper addresses the following questions. Is there evidence of financial contagion in the Eurozone? To what extent … matter concerning the Euro Zone. Second, differences in vulnerability to contagion within the Eurozone are even more … remarkable: the core Eurozone members become less vulnerable to EUZ contagion, possibly due to a safe-heaven effect, while …

for the eurozone. The triple euro area crisis showed the costly consequences of ignoring the "safety trilemma". Keeping a …

restructuring of any foreign eurozone country. Debt will not be forgiven: individual states will agree to buy it back from the ECB …

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 …

refuse to participate in a debt restructuring. We document a large variation in holdout rates, based on a comprehensive new … the size of creditor losses (haircuts) is among the best predictors at the bond level. In a restructuring, bonds with …

debt burden is high, followed by deeper debt restructuring if post-crises debt proves unsustainable. The mechanism is …