Restructuring Sovereign Debt

Explains why ad hoc machinery would function more effectively in the Bretton Woods system. By describing in detail the origins and operations of the London Club and Paris Club, Lex Rieffel highlights the pragmatism and flexibility associated with ad hoc approaches. He also recalls earlier proposals for creating permanent debt restructuring machinery and the reasons why they were not adopted.

Explica de ce utilajele ad-hoc ar functiona mai eficient in sistemul Bretton Woods. Prin descrierea detaliata a originilor si operatiunilor London Club si Paris Club, Lex Rieffel evidentiaza pragmatismul si flexibilitatea asociate abordarilor ad hoc.