Making a Voluntary Greek Debt Exchange Work

Preprint OPEN
Gulati, Mitu; Zettelmeyer, Jeromin;
(2012)
  • Subject: Debt exchange; Debt restructuring; Defaults; Eurozone crisis; Greece; Sovereign debt
    • jel: jel:F34 | jel:K33

Within the next few months, the Greek government, is supposed to persuade private creditors holding about EUR 200bn in its bonds to voluntarily exchange their existing bonds for new bonds that pay roughly 50 percent less. This may work with large creditors whose failure... View more
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