TTIP and Sovereign Debt Restructuring – Avoiding a collision

As members of the Eurozone are now acutely aware, the lack of a sovereign debt-restructuring […]

Policy Brief

15/07/2016

As members of the Eurozone are now acutely aware, the lack of a sovereign debt-restructuring regime is one of the most glaring gaps in the international financial architecture. In the absence of a clear and coherent regime, some investors have sought to investor-state-dispute systems (ISDS) in bi-lateral investment treaties (BITs) and the investment provisions of free trade agreements (FTAs) as instruments to circumvent important restructurings that have occurred. Under investment treaties, Argentina has been challenged for its sovereign debt restructuring of the early 2000s and Greece was challenged for the restructuring conducted by the International Monetary Fund, European Commission, and the European Central Bank. The trade and investment treaty regime is not equipped to govern global financial stability in general and sovereign debt restructuring in particular. It is paramount to ensure that the Trans-Atlantic Trade and Investment Partnership (TTIP) does not govern these matters and leaves sovereign debt to national governments and international financial and monetary authorities. 

Read the policy brief

Find all related publications
Publications
28/06/2022

Sustainable Digital Market Design: A data-based approach to the circular economy

Markets must be designed properly to serve the common good. This is particularly evident in […]
20/06/2022

Talking Green in Europe

Lessons on re-framing the public debate on the climate crisis
13/06/2022

Just Transition & Revitalisation – A New EU Strategy for Rural Areas

How can EU actions support the revitalisation of rural areas? How can EU institutions put […]
25/05/2022

Voting during pandemics: making democracy resilient in turbulent times

Although many volumes have already discussed several COVID-related socio-economic phenomena, relatively less attention has been […]
Find all related news
News
21/06/2022

Ahead of this week’s European Council, progressive MEPs and MPs urge EU leaders to take resolute actions toward the Western Balkans

On 17 and 18 June, the ‘Friends of the Western Balkans’, the newly established network […]
17/06/2022

First meeting of the Friends of the Western Balkans

How do we get out of the dead end in the enlargement process?
10/06/2022

FEPS launches a new website!

After months of work, FEPS’s new website is now online!  This new website offers a […]
09/06/2022

FEPS holds the 2022 General Assembly

This week, FEPS held the 2022 General Assembly (GA), the yearly meeting gathering all members […]
Find all related in the media
In the media

Leaders Must Choose a Just Energy Transition and a Social Europe

by Euractiv 30/05/2022

The circular economy and green jobs

by ENCOMPASS 25/05/2022

Da Prodi a Rodrigues, domani al via la ’Terza conferenza sul futuro dell’Europa’

by La Nazione 25/05/2022

Visioni e strategie per disegnare il futuro europeo 

by La Nazione 23/05/2022