Designing a sovereign debt restructuring mechanism for a European Monetary Fund

Author (Person)
Series Title
Series Details Vol.53, No.4, July 2018, p.221-224
Publication Date July 2018
ISSN 0020-5346 (print) | 1613-964X (online)
Content Type

Abstract:

The establishment of a European Monetary Fund (EMF) enjoys increasing academic and political support, though its advocates do not necessarily agree on the purpose and functions of such an institution. This paper aims to examine the features of the EMF that are relevant to sovereign debt restructuring. We argue that a European sovereign debt restructuring mechanism would be a feasible and useful tool in a crisis. It would facilitate private sector involvement and convey all the advantages that pre-defined procedures offer compared to ad hoc solutions in dealing with a crisis.

Source Link http://dx.doi.org/10.1007/s10272-018-0753-4
Subject Categories
Countries / Regions
Record URL https://www.europeansources.info/record/?p=513145