Lessons from the 2012 Greek debt restructuring

Miranda Xafa, 25 June 2014

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Background

The 2012 Greek debt exchange and subsequent buyback was a key episode in the Eurozone debt crisis (Wyplosz 2010, 2013). It was the largest debt restructuring in the history of sovereign defaults, and the first within the Eurozone.

Topics: Europe's nations and regions, Macroeconomic policy
Tags: debt restructuring, Greek debt

Debt-for-equity swaps offer Greece a better way

Peter Allen, Barry Eichengreen, Gary Evans, 28 February 2014

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Last week, Eurogroup finance ministers in their wisdom decided that there would be no debt relief or restructuring for Greece until the end of the summer. Evidently they wish to avoid exciting voters in the European Parliament elections in May.

Topics: EU institutions, International finance
Tags: debt-equity swaps, Greece, greek crisis, Greek debt

Massacre memories: German car sales and the EZ Crisis in Greece

Vasiliki Fouka, Hans-Joachim Voth, 23 October 2013

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When Angela Merkel visited Athens earlier this year, local protesters upset about austerity measures and alleged German dominance depicted her on placards wearing a Nazi uniform. Cypriots demonstrating against the terms of their country's bailout showed the stars of the EU surrounding a swastika.

Topics: Europe's nations and regions, Global crisis
Tags: eurozone, Greek debt

Messing up the next Greek debt relief could endanger the Eurozone

Charles Wyplosz, 23 September 2013

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The situation in Greece is so disastrous that some form of debt relief is likely. The timing is right as Germany’s electoral ‘purdah’ period has ended.

Topics: EU institutions, Macroeconomic policy
Tags: debt rescheduling, Greek debt

The logic and fairness of Greece’s programme

Olivier Blanchard, 23 March 2012

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To get back to health, Greece needs two things. First, a lower debt burden. Second, improved economic competitiveness. The new programme addresses both.

Topics: EU institutions, Europe's nations and regions
Tags: Eurozone crisis, Greek debt

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