News Topic: Sovereign Debt

Someone who wanted to be very mean to the Germans just leaked this document , where they manage to come off as both desperate and inept. The proposal purports to address Greek failure to meet program targets by installing an EU overlord, whose job it ... Read full article

Unless Greece and its creditors reach a deal in the next few days, Greece has no money to pay €15 Billion or so due to its bondholders in March. ... Read full article

Credit Slips Own Anna Gelpern has a great new article in the Yale Law Journal that very much deserves a plug. It's called " Bankruptcy, Backwards:  The Problem of Quasi-Sovereign Debt ." The article deals with the problems of financial ... Read full article

Will Greece reach a voluntary deal with its creditors to write down its debt by 50% in the coming weeks? Will it default? ... or will its official patrons blink, pay up, and let the creditors off the hook? I hear at least two uber-expert Euro-watchers ... Read full article

A few quick thoughts as the Make-or-Break, Life-or-Death, Now-or-Never EU Summit gets going. ... Read full article

No more referendum . Still my candidate for the most important moment in this crisis. The possibility of a referendum, and of exiting the Euro, stays on the table -- as well it should. The persistent fog in Europe's Plan A, and the palpable absence ... Read full article

The Greek authorities' decision to hold a referendum on the new Eurozone rescue package strikes me as the most interesting and potentially consequential development in the crisis in a very long time. It is potentially more consequential than last ... Read full article

Harrisburg filed its chapter 9 petition via  fax ? ... Read full article

Over at Dealbook , I take a look at the obvious solution to the Greek situation and the chatter regarding a sovereign bankruptcy procedure. ... Read full article

For those of you following the Greek ... Read full article

If you happen to be in Reykjavik or thereabouts in early October--or scouting the web for papers putting Europe in perspective-- this  looks like a wonderful conference, not least for bringing economists, finance, policy, and legal types together in one ... Read full article

The last big fix to the European debt crisis,  quietly unraveling since its announcement on July 21 , is loudly imploding over collateral.  Turns out that Finland, representing less than 2% of the Eurozone package and 37.876% of the political noise about ... Read full article

And I'm back up on Dealbook , this time about the Greek-Finish fiasco. ... Read full article

A friend of mine here in Champaign, Roger Prillaman, told me he was strolling the Indianapolis Canal Walk and saw a historical marker about how the state of Indiana became bankrupt in 1839. The canal walk is a remnant of the Whitewater Canal, an internal ... Read full article

I have a new paper out, Bankrupt Politics and the Politics of Bankruptcy , that examines state bankruptcy proposals and then uses them as a jumping-off point for sketching out a political theory of bankruptcy as a "creditor's armistice," an ... Read full article

In the inane and insane case the United States does skip a debt payment, please let us skip the comparisons to Greece. Greece is really out of money and probably should have bitten the D-bullet ( restructured, re-profiled, whatever ) some time ago. We are ... Read full article

There aren't a lot of details about the Gang of Six debt proposal, but apparently it includes cutting or eliminating the home mortgage interest deduction. There's a good case to be for eliminating the home mortgage interest deduction. But ... Read full article

The House will be voting tomorrow on a proposed balanced budget amendment to the Constitution that would include a Proposition 13-like supermajority requirement for any tax increases.  It's unlikely to go anywhere, but it's worth discussing, if ... Read full article