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Monday, 18 November 2013

Restructuring the Greek debt

Heraclitus writes:

It was the best of times, it was the worst of times...'  That pretty much captures the composite picture of the Greek debt restructuring, as it emerged from the PEFM seminar on November 11th. Jeromin Zettelmeyer of the EBRD presented; Jens Bastian of ELIAMEP (formerly on the EU Greek Task Force) discussed; and Russell Kincaid (St Antony's College, formerly IMF) guided the animated debate that followed.

Maybe you needed a shot of Mediterranean coffee to keep on top of all the issues: the contested valuations; the debt projections; the inter-creditor fights... But Jeromin Zettelmeyer shed fresh analytic light on all these facets, and in so doing he laid the foundations for some rather important new findings about the Greek debt restructuring and its implications for the future.