LEADER 04415nam 22005531 450 001 9910511364403321 005 20200514202323.0 010 $a1-84946-851-6 010 $a1-84946-821-4 024 7 $a10.5040/9781849468510 035 $a(CKB)3710000000321415 035 $a(CaPaEBR)ebrary11001306 035 $a(MiAaPQ)EBC2002396 035 $a(OCoLC)905691356 035 $a(UtOrBLW)bpp09258920 035 $a(EXLCZ)993710000000321415 100 $a20150504d2014 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 02$aA debt restructuring mechanism for sovereigns $edo we need a legal procedure? /$fedited by Dr. Christoph G. Paulus, LL.M., professor at the Humboldt-Universita?t zu Berlin 210 1$aMu?nchen, Germany :$cVerlag C. H. Beck,$d[2014] 215 $a1 online resource (288 p.) 300 $a"Conference held at the Humboldt-Universita?t, Berlin, January 2012" --Page [iii]. 311 $a1-336-21115-6 311 $a1-84946-740-4 320 $aIncludes bibliographical references. 327 $aEchoes of History : The International Financial Commission in Greece -- Michael Waibel -- The European Debt Crisis : How Did We Get into this Mess? How Can We Get out of it? -- Michael C. Burda -- Why the Debt Crisis Led to a Systemic Crisis and How to Escape from it -- Ernst-Moritz Lipp -- Legal Analysis of the Eurozone Crisis -- Christian Hofmann -- Reflections on Subnational Debt and the Sovereign Crisis in Spain -- Ignacio Tirado -- Sovereign Debt Restructuring and the Internal Legal Framework: The Greek Experience -- Aristides P. Chiotellis -- Engineering an Orderly Greek Debt Restructuring -- Mitu Gulati -- Jeromin Zettelmeyer -- How to Neutralize the Bondholder' s Treaty Rights of Arbitration in Debt Restructuring -- Yves Nouvel -- Disenfranchisement in Sovereign Bonds -- Keegan S. Drake -- Legal Change and Sovereign Debt Crisis : The Clash between Capitalism and Democracy in the Western Legal Tradition -- Alessandro Somma -- The German Perspective : The Structure of the European Stability Mechanism -- Ludger Schuknecht -- Should Politics be Replaced by a Legal Proceeding? -- Christoph G. Paulus -- A Debt Restructuring Mechanism for European Sovereigns : An Emerging Idea -- Mathias Audit -- Do We Need a Mechanism for Solving Sovereign Debt Crises? : A Rule-Based Discussion -- Ugo Panizza -- The Importance of Being Prepared : A Call for a European Sovereign Debt Restructuring Mechanism -- Bettina Nunner-Krautgasser -- Sovereign Debt and Exclusions from Insolvency Proceedings -- Jay L. Westbrook -- A Skeptic's Case for Sovereign Bankruptcy -- Anna Gelpern. 330 8 $aThe Eurozone crisis which started in spring 2010 as a Greek budget crisis has alerted Europeans that the issue of defaulting sovereigns is not one reserved just for the poor and poorest countries on this globe. The crisis painfully amplified that developed countries, too, might be hit by this phenomenon. To be sure, this insight is far from novel - the history of defaulting states reaches back into history for at least two millennia. And yet, lawyers have surprisingly abstained more or less completely from discussing this subject and developing possible solutions. Beginning with the Argentina crisis in 2001, this neglect began to vanish to a certain degree and this movement got some momentum in 2010 by the Eurozone crisis. The present book collects contributions from authors most of whom have participated in a conference on this issue in January 2012 at the Humboldt-Universita?t zu Berlin. The presentations, thus, provide a unique overview of the present discussion both from an economic and legal perspective 606 $aDebt relief$zEurope$vCongresses 606 $aDebts, Public$xLaw and legislation$zEurope$vCongresses 606 $aDefault (Finance)$zEurope$vCongresses 606 $aRepudiation$zEurope$vCongresses 606 $2Financial law 615 0$aDebt relief 615 0$aDebts, Public$xLaw and legislation 615 0$aDefault (Finance) 615 0$aRepudiation 676 $a343.037 702 $aPaulus$b Christoph 801 0$bUtOrBLW 801 1$bUtOrBLW 801 2$bUkLoBP 906 $aBOOK 912 $a9910511364403321 996 $aA debt restructuring mechanism for sovereigns$92552888 997 $aUNINA LEADER 04240nam 22007572 450 001 9910819787603321 005 20151005020621.0 010 $a1-139-06330-8 010 $a1-107-21481-5 010 $a1-283-12725-3 010 $a1-139-07558-6 010 $a9786613127259 010 $a1-139-08240-X 010 $a1-139-07784-8 010 $a1-139-06982-9 010 $a1-139-08013-X 010 $a0-511-97492-2 035 $a(CKB)3460000000002863 035 $a(EBL)691896 035 $a(OCoLC)735593942 035 $a(SSID)ssj0000525785 035 $a(PQKBManifestationID)11318607 035 $a(PQKBTitleCode)TC0000525785 035 $a(PQKBWorkID)10507527 035 $a(PQKB)11175998 035 $a(UkCbUP)CR9780511974922 035 $a(MiAaPQ)EBC691896 035 $a(Au-PeEL)EBL691896 035 $a(CaPaEBR)ebr10476472 035 $a(CaONFJC)MIL312725 035 $a(EXLCZ)993460000000002863 100 $a20101011d2011|||| uy| 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aSovereign defaults before International courts and tribunals /$fMichael Waibel$b[electronic resource] 210 1$aCambridge :$cCambridge University Press,$d2011. 215 $a1 online resource (lvi, 366 pages) $cdigital, PDF file(s) 225 1 $aCambridge studies in international and comparative law ;$v81 300 $aTitle from publisher's bibliographic system (viewed on 05 Oct 2015). 311 $a1-107-68429-3 311 $a0-521-19699-X 320 $aIncludes bibliographical references and index. 327 $aSovereign debt crises and defaults -- Political responses to sovereign defaults -- Quasi-receivership of highly indebted countries -- Monetary reform and sovereign debt -- Financial necessity -- National settlement institutions -- Arbitration on sovereign debt -- Arbitration clauses in sovereign debt instruments -- Creditor protection in international law -- ICSID arbitration on sovereign debt -- Overlapping jurisdiction over sovereign debt -- Sovereign default as trigger of responsibility -- Compensation on sovereign debt -- Building durable institutions for adjudicating sovereign defaults. 330 $aInternational law on sovereign defaults is underdeveloped because States have largely refrained from adjudicating disputes arising out of public debt. The looming new wave of sovereign defaults is likely to shift dispute resolution away from national courts to international tribunals and transform the current regime for restructuring sovereign debt. Michael Waibel assesses how international tribunals balance creditor claims and sovereign capacity to pay across time. The history of adjudicating sovereign defaults internationally over the last 150 years offers a rich repository of experience for future cases: US state defaults, quasi-receiverships in the Dominican Republic and Ottoman Empire, the Venezuela Preferential Case, the Soviet repudiation in 1917, the League of Nations, the World War Foreign Debt Commission, Germany's 30-year restructuring after 1918 and ICSID arbitration on Argentina's default in 2001. The remarkable continuity in international practice and jurisprudence suggests avenues for building durable institutions capable of resolving future sovereign defaults. 410 0$aCambridge studies in international and comparative law (Cambridge, England : 1996) ;$v81. 517 3 $aSovereign Defaults before International Courts & Tribunals 606 $aDebts, Public$xLaw and legislation 606 $aDebts, External$xLaw and legislation 606 $aArbitration (International law) 606 $aInternational courts 615 0$aDebts, Public$xLaw and legislation. 615 0$aDebts, External$xLaw and legislation. 615 0$aArbitration (International law) 615 0$aInternational courts. 676 $a343/.037 686 $aLAW051000$2bisacsh 700 $aWaibel$b Michael$cLL. M.,$0611913 801 0$bUkCbUP 801 1$bUkCbUP 906 $aBOOK 912 $a9910819787603321 996 $aSovereign Defaults before International Courts and tribunals$91138119 997 $aUNINA