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Banking fragility rooted in justice failures Evidence from Ukraine
Policy Contribution

Debt reduction without (a messy) default

by Daniel Gros / Thomas Mayer
23 June 2011

Debt reduction without (a messy) default

Daniel Gros / Thomas Mayer

Pointing out that disorderly default or further bailouts are not the only solution to the Greek debt crisis, Daniel Gros and Thomas Mayer argue in this CEPS commentary that a sounder and less messy approach would be to take advantage of the current low prices of Greek debt to go for a market-based debt reduction.
Daniel Gros is Director of CEPS. Thomas Mayer is Chief Economist of Deutsche Bank.
 


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Debt reduction without (a messy) default
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