A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2016; you can also visit the original URL.
The file type is
The Pricing of Non-Price Terms in Sovereign Bonds: The Case of the Greek Guarantees
Journal of Law, Finance, and Accounting
In March 2012, Greece conducted one of the biggest and most brutal sovereign debt restructurings ever, asking holders of Greek government bonds to take net present value haircuts of near 80 percent. Greece forced acquiescence to its terms from a large number of its bonds by using a variety of legal strong-arm tactics. With the vast majority of Greek bonds, the tactics worked. There were, however, thirty-six bonds guaranteed by the Greek state, which, because of the weakness of the underlyingdoi:10.1561/108.00000002 fatcat:rantiyyn2zewfk37tg4chkglme