Debt restructuring framework for Europe essential: Deutsche Bank
The creation of a bailout fund to manage the orderly default of a European sovereign is a useful step, but making it succeed will require the creation of a detailed and coherent rulebook on how such sovereign debt will be restructured, Mark Wall, the co-head of European economic research at Deutsche Bank, said on Monday.
Eurozone members set up the European Financial Stability Facility (EFSF) as a bailout fund for eurozone sovereigns on 7 June in response to the market panic in the first half
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