Bruegel Event Recordings

Europe’s private sector debt continues to weigh on the economic recovery, and the health of its banking systems. Legal standards that define the rights of creditors and of borrowers in debt distress are a crucial framework to allow an early restructuring of companies that can be saved, to work through a liquidation where this is unavoidable, and to allow a fresh start once debt has been discharged. Significant reforms have already been undertaken by individual EU states, and in November a new framework was proposed by the EU Commission. This event will discuss some key issues in this contentious field of law and economic reform: -Have legal impediments held back debt reduction and corporate sector growth? -Are Europe’s different legal cultures amenable to common norms? -Will such norms allow greater cross border investment and trade? -How can banks support debt reduction?