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Greek Debt - The Endgame Scenarios

Lee C. Buchheit

Cleary Gottlieb Steen & Hamilton LLP - New York Office

G. Mitu Gulati

Duke University School of Law

April 18, 2011

Perhaps Greece - a country with a debt to GDP already approaching 150 percent and set to move even higher - avoids a debt restructuring. Perhaps not.

What are the possible scenarios if Greece cannot return to the capital markets to refinance this gargantuan debt stock once its EU/IMF bailout package expires in two years time? What would a Greek debt restructuring look like after mid-2013? And (sharp intake of breath here) what would happen if such a debt restructuring were undertaken before that point?

Number of Pages in PDF File: 27

Keywords: sovereign debt

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Date posted: April 14, 2011 ; Last revised: December 25, 2014

Suggested Citation

Buchheit, Lee C. and Gulati, G. Mitu, Greek Debt - The Endgame Scenarios (April 18, 2011). Available at SSRN: http://ssrn.com/abstract=1807011 or http://dx.doi.org/10.2139/ssrn.1807011

Contact Information

Lee C. Buchheit
Cleary Gottlieb Steen & Hamilton LLP - New York Office ( email )
One Liberty Plaza
New York, NY 10006-1470
United States
Gaurang Mitu Gulati (Contact Author)
Duke University School of Law ( email )
210 Science Drive
Box 90362
Durham, NC 27708
United States
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