An obvious question is whether the government can do anything to speed the restructuring process or reduce its cost. If the government could identify how the economy needed to be restructured and provide incentives to move resources more quickly in that direction, a properly designed program could alleviate and shorten the recession.

An obvious question is whether the government can do anything to speed the restructuring process or reduce its cost.

Alternatives to a debt restructuring are fast disappearing.

The only question is whether the country s debt restructuring will be orderly and controlled or chaotic and contagious.

Initial conditions matter in economic restructuring

The Lethal Deferral of Greek Debt Restructuring

Waiting to restructure unsustainable debts would only lead to disorderly workouts and severe haircuts for some private creditors.

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

Indeed, the implementation of the Multilateral Debt Relief initiated by the G 8 already provides an unprecedented opportunity to complete the process of debt relief for a large number of low income countries.

Calls for immediate debt restructuring went unheeded.

A country drowning in debt needs debt restructuring.

The very mention of debt restructuring was considered inadmissible and a cause for ridiculing those of us who dared suggest its inevitability.

The process is important.

But, as we know from experience, there is life after debt restructuring.

If creditors now believe that holding out makes it more likely that they will receive full value at a later date, restructuring sovereign debt and restoring a debtor economy s normal functioning will be more difficult.

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.

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

It is certainly the case that contagion will rage after any Greek restructuring.

That's a cyclical process.

It's very slow.

This is a violent process.

It s a complicated process.

It is a multi stage process.

The process has already begun.

The process has already begun.

It is a complicated process.

The process is worked in theory.

These restructuring efforts created the ideal conditions for the introduction of new technologies.

Judgment in Phnom Penh

Obama s Flawed Peace Process

This is likely to continue.

The exit process has begun.

This process has been completed.

And breathability is good.

It's much more interactive.

A Korean Helsinki Process?

But that takes time.

Therefore the process has already begun.

The medicine hastened the process of growth.

The medicine hastened the process of growth.

The medicine hastened the process of growth.

The trial is not open to the public.

It's a very simple process.

It's an extremely complicated process.

It's a very slow process.