id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-031072-uit0nm20	Arnold, Theresa	How to restructure Euro area sovereign debt in the era of Covid-19	2020-08-12		.txt	text/plain	10833	545	62	In contrast to Italian creditors, the foreign-law holdout creditors in the Greek restructuring in 2012 had the rights to declare cross defaults, accelerate the debt and sue for recovery in English, Swiss or Japanese courts under the explicit consents to jurisdiction and waivers of immunities from suit and execution in the contracts. Theresa Arnold, Mitu Gulati and Ugo Panizza • Euro area sovereign debt in the era of The CACs in the Italian foreign-law bonds, such as the one issued in October 2019, are buttressed with all sorts of potent investor protections including acceleration clauses, cross default provisions, waivers of immunity and consents to jurisdiction. If faced with a debt crisis situation and the need to protect against holdouts, Italy will likely wish to retroactively add the two enhancements mentioned above-the option of using single-shot CACs and the disenfranchisement of the ECB-to all of its already-issued and outstanding local-law-governed debt.	./cache/cord-031072-uit0nm20.txt	./txt/cord-031072-uit0nm20.txt