So, do you believe that “exceptional and unique” story about sovereign debt restructuring in the eurozone?
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The Germans are fast picking up support for their Sovereign Debt Restructuring Mechanism (SDRM) — along with new acronyms. So please welcome the ECRM.
Bruegel, a Brussels-based think tank, announced on Tuesday that “one of the main benefits of creating an ECRM would be the public acknowledgement that the default of a government on its debt is a real possibility in the euro area.” Read more