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Policy Contribution

Debt Reduction without Default

by Daniel Gros / Thomas Mayer
28 September 2011

Debt Reduction without Default

Daniel Gros / Thomas Mayer

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In light of the continued difficulties experienced by the Greek government to implement the promises it gave to its creditors and convince its own population of the need for further rounds of tough reforms in combination with investors’ doubts that the country will ever be able to grow out of its public debt, this CEPS Commentary reiterates the authors’ earlier proposal to take advantage of the low prices of Greek debt to implement a market-based approach to debt reduction.
Daniel Gros is Director of CEPS. Thomas Mayer is Chief Economist of Deutsche Bank.
 


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Debt Reduction without Default
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2888 Downloads