Greek Debt - The Endgame Scenarios

27 Pages Posted: 14 Apr 2011 Last revised: 25 Dec 2014

See all articles by Lee C. Buchheit

Lee C. Buchheit

Center for Contract and Economic Organization

Mitu Gulati

University of Virginia School of Law

Date Written: April 18, 2011

Abstract

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?

Keywords: sovereign debt

Suggested Citation

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

Lee C. Buchheit

Center for Contract and Economic Organization ( email )

New York, NY

Mitu Gulati (Contact Author)

University of Virginia School of Law ( email )

580 Massie Road
Charlottesville, VA 22903
United States

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