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whats on nouriels mind
From Argentina to Greece: Crisis in the Global Architecture of Orderly Sovereign Debt Restructurings
By Nouriel Roubini
There is now a serious risk is that orderly debt restructurings that are beneficial to both the sovereign debtor and its creditors may unravel and fail as creditors willing to accept an exchange offer may hold out if they fear that their exchanged bonds could be seized by other holdouts.