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