Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox

The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In response, governments are revisiting legal tools and-in some cases-institutional arrangements to deal with over-indebtedness. For households, where the problem in some countries is...

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Bibliographic Details
Main Author: Liu, Yan
Other Authors: Rosenberg, Christoph
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2013
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a Debt restructuring 
653 |a Financial crises 
653 |a Financial Crises 
653 |a Sovereign Debt 
653 |a Finance: General 
653 |a Goodwill 
653 |a Corporate Finance 
653 |a Bankruptcy 
653 |a Solvency 
653 |a Financial Risk Management 
653 |a Asset and liability management 
653 |a Financing Policy 
653 |a Corporate insolvency 
653 |a Debt Management 
653 |a Debt 
653 |a Finance 
653 |a Financial Risk and Risk Management 
653 |a Liquidation 
653 |a Macroeconomics 
653 |a Economic & financial crises & disasters 
653 |a Private debt 
653 |a Financial sector policy and analysis 
653 |a Capital and Ownership Structure 
653 |a Value of Firms 
653 |a Debts, External 
653 |a National accounts 
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520 |a The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In response, governments are revisiting legal tools and-in some cases-institutional arrangements to deal with over-indebtedness. For households, where the problem in some countries is large but no established best practice exists, reforms have generally sought to allow debtors a fresh start while minimizing moral hazard and preserving bank solvency and credit discipline. For the corporate sector, efforts have focused on facilitating debt restruturing (including through out of court mechanisms). Direct government intervention has been rare