Debt reduction with (a messy) default

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Series Details 23 June 2011
Publication Date 23/06/2011
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Pointing out that disorderly default or further bailouts are not the only solution to the Greek debt crisis, Daniel Gros and Thomas Mayer argue in this CEPS commentary that a sounder and less messy approach would be to take advantage of the current low prices of Greek debt to go for a market-based debt reduction.

Source Link Link to Main Source http://aei.pitt.edu/32097/1/June_DG_%2B_TM_on_Greek_restructuring[1].pdf
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