Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/107957
Authors: 
Papanikos, Gregory T.
Year of Publication: 
2014
Citation: 
[Journal:] Romanian Journal of Fiscal Policy (RJFP) [ISSN:] 2069-0983 [Volume:] 5 [Year:] 2014 [Issue:] 2 [Pages:] 1-25
Abstract: 
Debt Overhang is a controversial issue in the eurozone countries and is considered as one of the factors which created the current economic crisis. How to deal with sovereign debt has been debated both at the theoretical and policy making level. This paper looks at the Greek debt and four options are discussed: (a) unilateral default (b) unilaterally imposed austerity measures (c) restructuring through negotiating and (d) a tax on wealth to pay for the debt. Optimal options depend on the borrowing rate, debt maturity and debt haircut.
Subjects: 
eurozone
debt
Greece
JEL: 
H63
E62
H26
H21
Creative Commons License: 
http://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Article
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