Macroeconomic Relevance of Insolvency Frameworks in a High-debt Context: An EU Perspective

Jean-Charles Bricongne, Maria Demertzis, Peter Pontuch and Alessandro Turrini

No 32, European Economy - Discussion Papers from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: The high level of private debt in many EU countries has put a spotlight on the role that insolvency frameworks can play in helping to address debt overhangs and clean bank balance sheets of nonperforming loans. This paper reviews the macroeconomic relevance of insolvency frameworks from an EU perspective, discusses design issues of insolvency regimes and presents the main features of insolvency frameworks in selected EU Member States. It also reviews recently enacted reforms and examines remaining reform priorities from a macroeconomic perspective.

JEL-codes: D02 E44 F34 G33 (search for similar items in EconPapers)
Pages: 56 pages
Date: 2016-06
New Economics Papers: this item is included in nep-eec and nep-mac
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:euf:dispap:032

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