publication
Picto Report and other

Do we need a mechanism for solving sovereign debt crises? A rule-based discussion

Ugo PANIZZA
2013

This paper uses the rules of engineering as a rhetorical device to discuss why the international financial architecture needs a structured mechanism for dealing with sovereign insolvency. The paper suggests that the most important problem with the status-quo relates to delayed defaults and sketches a proposal aimed at mitigating this problem.