Restructuring was crucial to revitalizing Sweden's financial sector, and is necessary in Japan.

Technically, successful financial deleveraging means restructuring their debts and forcing some of them into bankruptcy.

Second, procrastinate on all but inevitable adjustments, because reform, restructuring and cleaning up financial messes never attracts new cronies.

Second, procrastinate on all but inevitable adjustments, because reform, restructuring and cleaning up financial messes never attracts new cronies.

But that begs the question why should an involuntary restructuring lead to worse contagion than a voluntary restructuring of comparable depth? If the banking system were well regulated, with banks holding sovereign debt having purchased insurance, an involuntary restructuring should perturb financial markets less.

To the extent that government becomes involved in restructuring financial institutions, it should avoid unnecessary wealth transfers from taxpayers to the security holders of the financial institutions.

Devaluation and debt restructuring worked.

Initial conditions matter in economic restructuring

Painful restructuring is sure to follow.

Awaiting that restructuring, financial institutions could not perform as usual, which impeded financial intermediation and called into question plans, relations, and contracts such as corporate and residential investment or refinancing.

Given the central role of financial intermediation in the current crisis, the government should instead expedite the restructuring process through bankruptcy law.

Calls for immediate debt restructuring went unheeded.

The Lethal Deferral of Greek Debt Restructuring

Defaulting, restructuring, changing the terms has consequences.

If the banking system were well regulated, with banks holding sovereign debt having purchased insurance, an involuntary restructuring should perturb financial markets less.

He will need to stimulate the economy and avoid protectionist pressures at home, while also taking the lead in restructuring the global financial system.

He will need to stimulate the economy and avoid protectionist pressures at home, while also taking the lead in restructuring the global financial system.

There is, moreover, little evidence that a deep involuntary restructuring would be any more traumatic than a deep voluntary restructuring.

Securitization made debt restructuring difficult, if not impossible.

Alternatives to a debt restructuring are fast disappearing.

That necessitates restructuring both tax and expenditure programs.

A country drowning in debt needs debt restructuring.

So began the restructuring of the sugar industry.

The safe assumption is that it will kiss good bye to any thought of further financial opening or restructuring and, instead, move sharply into reverse.

Insolvent states need help with restructuring, both in the financial sector and well beyond it, so that they can work their way out of crisis.

But that begs the question why should an involuntary restructuring lead to worse contagion than a voluntary restructuring of comparable depth?

If the bonds were acceptable as collateral before the restructuring, surely they were safer after the restructuring, and thus equally acceptable.

Because government provides deposit insurance, it plays a large role in restructuring (unlike other sectors). Normally, when a bank fails, the government engineers a financial restructuring if it has to put in money, it, of course, gains a stake in the future.

What is needed is coordinated restructuring and policy setting.

Europe also needs a restructuring policy for land use.

The whole point of restructuring was to discharge debt and make the remainder more manageable. If the bonds were acceptable as collateral before the restructuring, surely they were safer after the restructuring, and thus equally acceptable.

In the aftermath of the global financial crisis, the United Nations Commission of Experts on Reforms of the International Monetary and Financial System urged that we design an efficient and fair system for the restructuring of sovereign debt.

Recessions have important cleansing effects, helping to facilitate painful restructuring.

But increased competition, restructuring, and new technologies inevitably displace workers.

Debt restructuring would have given Europe the reset it needed.

Coercive restructuring of insolvent banks unsecured debt would be next.

That restructuring will occur, deficit spending or no deficit spending.

If most investors accept this offer, the restructuring occurs successfully.

2. Europe also needs a restructuring policy for land use.

It was aimed at removing bureaucratic constraints to growth by restructuring the financial sector, streamlining business regulations, liberalizing foreign trade, and reducing the government s role in the economy.

Because financial institutions held much of these securities, their market values declined as well, leaving balance sheets in need of restructuring, particularly given their highly leveraged capital structures.

Germany insists on a deep restructuring at least a 50 haircut for bondholders whereas the European Central Bank insists that any debt restructuring must be voluntary.

If this principle prevails, no one would ever accept debt restructuring.

Finally, global economic conditions will compel even more restructuring upon Japan.

When discipline failed to solve the problem, he launched perestroika ( restructuring ).