 Financial Supervision and Political Resistance: Greece, 1879–1914Ali Coşkun Tunçer
Chapter 6 in Sovereign Debt and International Financial Control, 2015, pp 100-122 from Palgrave Macmillan Abstract: Abstract This chapter focuses on the final historical case of IFC, which was established in Greece in 1898 following the default of 1893. The Greek case perhaps represents another extreme where the role of IFC remained limited to entirely supervisory matters, it operated through an independent company, and its impact on overall creditworthiness of the country was, as a result, relatively minor. The IFC worked efficiently in managing the revenues under its control, however, there was significant discontent at the sides of both foreign bondholder representatives and Greek government. As a result, the IFC operated in a politically challenging environment and either could not achieve most of the intended reforms or reforms were implemented only partially and late. In the first half of the chapter, I start by outlining the history of sovereign borrowing in Greece, from the independence loans in 1820s to the establishment of IFC in 1898. The second half of the chapter will discuss the activities and organisation of the IFC from 1898 until 1914. Keywords: Sovereign Debt; International Financial Market; Internal Debt; Forced Currency; Financial Supervision (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-1-137-37854-5_6 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Studies in the History of Finance from Palgrave Macmillan |
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