ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Has the Financial World Arrived at a Collective Action Clause Consensus?

With truly astonishing speed (in a little over a month) collective action clauses in US bonds for sovereign issuers have moved from taboo, to a tentative first try (Mexico), to what looked like consensus on the clause (Uruguay), to more change (Brazil). What does this sudden move from a point of unwillingness to try even minimal change to one of everyday experimentation tell us about the dynamics of the underlying system? And where does this leave the policy debate?

Dear reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top