EU & Global Financial Governance: “divided we stand”

EPA/JUSTIN LANE

Axel Kicillof, Argentina's economy minister, arrives for a press conference following a G77 meeting entitled "Sovereign Debt Restructuring: the Case of Argentina" at United Nations headquarters in New York, New York, USA, 25 June 2014.

EU & Global Financial Governance: “divided we stand”


On September 9 the UN General Assembly voted on a Resolution entitled “the Basic Principles on Sovereign Debt Restructuring Processes Resolution,” which envisaged a multilateral legal framework for sovereign debt restructuring.

The 193-member United Nations General Assembly voted by an overwhelming majority to adopt a multilateral legal framework for sovereign debt restructuring. The resolution drafted on behalf of a Group of 77  and China managed to gather 124 votes in favor of the Resolutio...


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