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An evaluation of the French proposal for a restructuring of Greek debt. CEPS Policy Brief No. 247, 1 July 2011

Kopf, Christian. (2011) An evaluation of the French proposal for a restructuring of Greek debt. CEPS Policy Brief No. 247, 1 July 2011. [Policy Paper]

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    Abstract

    This Policy Brief by Christian Kopf examines the merits of a new proposal from France aimed at resolving the Greek debt crisis in which French commercial banks would swap €85.5 billion in Greek government bonds maturing between 2011 and 2014 into a combination of new long-term Greek bonds with principal guarantee and cash payments. In spite of finding several shortcomings, the author concludes that the proposal is a good starting point in the design of a solution for Greece, as it acknowledges the need for private sector involvement in dealing with the country’s sovereign debt overhang.

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    Item Type: Policy Paper
    Subjects for non-EU documents: Countries > France
    Countries > Greece
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 12 Jul 2011 10:50
    Number of Pages: 8
    Last Modified: 12 Jul 2011 10:50
    URI: http://aei.pitt.edu/id/eprint/32161

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