Bank Insolvency and Sovereign Insolvency

Rosa Maria Lastra, CROSS-BORDER BANK INSOLVENCY, Chapter 13, Oxford University Press, May 2011

28 Pages Posted: 1 Jan 2011

See all articles by Michael Waibel

Michael Waibel

University of Cambridge - Faculty of Law; Lauterpacht Centre for International Law; University of Cambridge - Jesus College

Abstract

The financial crisis that started in 2008 is spreading from the private to the public sector. The migration from private to public balance sheets, and vice versa, is a familiar story in the history of international finance. The most prominent channel linking sovereign and private sector balance sheets is the insolvency of banks. This chapter reviews the link between sovereign and private debt crises, with reference to historical episodes. It addresses, in particular, the question when a government is liable internationally for the debts of its banks.

Keywords: sovereign default, bank insolvency, migration of debt, banking crisis

JEL Classification: F34, F33, G10

Suggested Citation

Waibel, Michael, Bank Insolvency and Sovereign Insolvency. Rosa Maria Lastra, CROSS-BORDER BANK INSOLVENCY, Chapter 13, Oxford University Press, May 2011. Available at SSRN: https://ssrn.com/abstract=1732786

Michael Waibel (Contact Author)

University of Cambridge - Faculty of Law ( email )

10 West Road
Cambridge, CB3 9DZ
United Kingdom

Lauterpacht Centre for International Law ( email )

5 Cranmer Road
Cambridge, CB3 9BL
United Kingdom

University of Cambridge - Jesus College ( email )

Jesus Lane
Cambridge, CB5 8BL
United Kingdom

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