Odious Debt, Adverse Creditors, and the Democratic Ideal

28 Pages Posted: 11 Dec 2018

See all articles by Margot E. Salomon

Margot E. Salomon

London School of Economics & Political Science (LSE) - Centre for the Study of Human Rights; London School of Economics - Law Department

Robert L. Howse

New York University School of Law

Date Written: November 27, 2018

Abstract

This essay explores the sanctity of democratic governance and the related principles that animate the doctrine of odious debt for their importance in understanding what is wrong with sovereign debt today. In the context of the Greek debt and human rights crisis, we see how odious debt is applicable to debt incurred not only by dictators but also by democracies and how, in the latter circumstances, international creditors are implicated in ‘hostile’ acts against the demos. We conclude with suggestions on the remediation of odious debt today.

Suggested Citation

Salomon, Margot E. and Howse, Robert, Odious Debt, Adverse Creditors, and the Democratic Ideal (November 27, 2018). LSE Legal Studies Working Paper No. 20/2018. Available at SSRN: https://ssrn.com/abstract=3291009 or http://dx.doi.org/10.2139/ssrn.3291009

Margot E. Salomon (Contact Author)

London School of Economics & Political Science (LSE) - Centre for the Study of Human Rights ( email )

Houghton Street
London WC2A 2AE
United Kingdom

HOME PAGE: http://www.lse.ac.uk/collections/law/staff/margot-salomon.htm

London School of Economics - Law Department ( email )

Houghton Street
London WC2A 2AE, WC2A 2AE
United Kingdom

Robert Howse

New York University School of Law ( email )

40 Washington Square South
New York, NY 10012-1099
United States

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