Sovereign debt and eurozone developments
20 February 2015
The daily developments in the eurozone present significant challenges to senior management and legal teams. The current focus is, of course, on events in Greece and in particular the fraught negotiations between the new Greek government and the Eurogroup in relation to the Greek bailout. We are monitoring developments closely and addressing the legal impact of events for our clients.
While each institution will take its own view as to likely scenarios that may develop, we have been working with our clients on the complex legal analysis and issues behind the latest events, and to identify steps to allow clients to best protect themselves as each new development unfolds.
As significant new developments arise, we will post updated commentary here. Our lawyers around the world, and in particular the Allen & Overy Global Law Intelligence Unit (a faculty of expert Allen & Overy lawyers with expertise in cross-border law) have written a number of relevant publications since the start of the eurozone crisis in 2011:
- Cyprus: the stone on the beach (Mar 2013)
- The pari passu clause and the Argentine case (Dec 2012)
- How the Greek debt reorganisation of 2012 changed the rules of sovereign insolvency (Sep 2012; Updated Oct 2012)
- The eurozone crisis: corporate risk management for retirement benefits - a guide for contingency planning (Sep 2012)
- The euro - the ultimate crib (Jul 2012)
- Eurozone crisis - the risks facing banks (Feb 2012)
- The euro and currency unions (Oct 2011)
- Sovereign state restructurings and credit default swaps (Oct 2011)
- State insolvency - what bondholders and other creditors should know (2010)
For specific advice, please get in touch with your usual Allen & Overy contact or any of the list of Allen & Overy lawyers below, who have been focusing in particular on keeping updated on the latest sovereign debt and eurozone developments.