13. Quelle voie suivre pour renforcer les processus de restructuration de dette souveraine ?

Pierre Bardin

Regards croisés sur l'économie, 2015, vol. n° 17, issue 2, 203-214

Abstract: Events such as Argentina?s 2001 default or its recent judiciary dispute with its litigating creditors have revived the debate over the need to establish an international legal framework to facilitate sovereign debt restructurings. If these events have highlighted the need for stronger coordination, the ?statutory approach?, based on the creation of a supranational authority, is currently very unlikely to succeed without consensus. Other more promising avenues exist to strengthen the current contractual features of sovereign bonds and to promote closer coordination between debtors and creditors, private or sovereign. The Paris Club, as a pivotal player in sovereign debt restructurings, plays a key role in this regard.

Date: 2015
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