Adam Feibelman (University of North Carolina at Chapel Hill - School of Law) has posted Contract, Priority, and Odious Debt (North Carolina Law Review, Vol. 85, p. 727, 2007) on SSRN. Here is the abstract: This Article proposes that sovereign nations and their creditors adopt a contractual approach to the seemingly intractable problem of odious debt. Odious debt is generally defined as an obligation incurred by a despotic or illegitimate leader that provides no value to the population of the sovereign. In recent years, spurred primarily by the financial problems of post-Hussein Iraq, many writers and commentators have proposed doctrinal and institutional mechanisms that would provide odious debt relief. These proposals all face practical challenges, and they would likely involve significant risk of destabilizing financial markets. Under a contractual approach, a majority or supermajority of a sovereign's creditors would have the power to identify odious obligations of the sovereign. The sovereign would then be obligated to repudiate these debts. Creditors should have good incentives to employ this arrangement discriminately. More than any other relevant actors, creditors will internalize the costs and benefits of odious debt relief. Even if the private benefits of contractual odious debt boot camp click rrangements are modest, they might create significant positive externalities.

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Adam Feibelman (University of North Carolina at Chapel Hill - School emergency loans f Law) has posted Contract, Priority, and Odious Debt (North Carolina Law Review, Vol. 85, p. 727, 2007) on SSRN. Here is the abstract: This Article proposes that sovereign nations and their creditors adopt a contractual approach to the seemingly intractable problem of odious debt. Odious debt is generally defined as an obligation incurred by a despotic or illegitimate leader that provides no value to the population of the sovereign. In recent years, spurred primarily by the financial problems of post-Hussein Iraq, many writers and commentators have proposed doctrinal and institutional mechanisms that would provide odious debt relief. These proposals all face practical challenges, and they would likely involve significant risk of destabilizing financial markets. Under a contractual approach, a majority or supermajority of a sovereign's creditors would have the power to identify odious obligations of the sovereign. The sovereign would then be obligated to repudiate these debts. Creditors should have good incentives to employ this arrangement discriminately. More than any other relevant actors, creditors will internalize the costs and benefits of odious debt relief. Even if the private benefits of contractual odious debt arrangements are modest, they might create significant positive externalities.

IN THE NEWS Building on the last post about taking al Qaeda's words seriously , it's fairly obvious that we are doing a poor job in winning the war of ideas, the other front in the war against terrorists. Where Islamist leaders, many from groups like al Qaeda and Hezbollah, can quote Aristotle's writings about tyrannicide to justify their actions, the American voice is much less sophisticated. Voice of America is the exception, and it's only because it provides decent news coverage that it's taken seriously at all. Residents of the Middle East, like people anywhere, are interested in an accurate depiction of daily trion air filter vents. Voice of America provides a credible newsfeed, but that's about it. The now-defunct but still live web site for the Coalition Provisional Authority represents the norm for American public diplomacy: amateurish, unconvincing, and written more for an American audience than an Iraqi one. Before the transfer of sovereignty, when the web site officially stopped any further updates, its chirpy, good news tone was wildly out of sync with the bloody reality of sabotage, bombings, kidnappings, and street battles. But there's not really much else going in the American "public diplomacy" effort. ( Click here for a good discussion of this problem .

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Adam Feibelman (University of North Carolina at Chapel Hill - School of Law) has posted Contract, Priority, and Odious Debt (North Carolina Law Review, Vol. 85, p. 727, 2007) on SSRN. Here is the abstract: This Article proposes that sovereign nations and their creditors adopt a contractual approach to the seemingly intractable problem of odious debt. Odious debt is generally defined as an obligation incurred by a despotic or illegitimate leader that provides art collectible hobby arts crafts o value to the population of the sovereign. In recent years, spurred primarily by the financial problems of post-Hussein Iraq, many writers and commentators have proposed doctrinal and institutional mechanisms that would provide odious debt relief. These proposals all face practical challenges, and they would likely involve significant risk of destabilizing financial markets. Under a contractual approach, a majority or supermajority of a sovereign's creditors would have the power to identify odious obligations of the sovereign. The sovereign would then be obligated to repudiate these debts. Creditors should have good incentives to employ this arrangement discriminately. More than any other relevant actors, creditors will internalize the costs and benefits of odious debt relief. Even if the private benefits of contractual odious debt arrangements are modest, they might create significant positive externalities.

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IN THE NEWS Building on the last post about taking al Qaeda's words seriously , it's fairly obvious that we are doing a poor job in winning the war of ideas, the other front in the war against terrorists. Where economical web hosting slamist leaders, many from groups like al Qaeda and Hezbollah, can quote Aristotle's writings about tyrannicide to justify their actions, the American voice is much less sophisticated. Voice of America is the exception, and it's only because it provides decent news coverage that it's taken seriously at all. Residents of the Middle East, like people anywhere, are interested in an accurate depiction of daily events. Voice of America provides a credible newsfeed, but that's about it. The now-defunct but still live web site for the Coalition Provisional Authority represents the norm for American public diplomacy: amateurish, unconvincing, and written more for an American audience than an Iraqi one. Before the transfer of sovereignty, when the web site officially stopped any further updates, its chirpy, good news tone was wildly out of sync with the bloody reality of sabotage, bombings, kidnappings, and street battles. But there's not really much else going in the American "public diplomacy" effort. ( Click here for a good discussion of this problem .

IN THE NEWS Building on the last post about taking al Qaeda's words seriously , it's fairly obvious that we are doing a poor job in winning the war of ideas, the other front in the war against terrorists. Where Islamist leaders, many from groups like al Qaeda and Hezbollah, can quote Aristotle's writings about tyrannicide to justify their actions, the American voice is much less sophisticated. Voice of America is the exception, and it's only because it provides decent news coverage that it's taken seriously at all. Residents of the Middle East, like people anywhere, are interested in an accurate depiction of daily events. Voice of America provides a credible newsfeed, but that's about it. The now-defunct but still live web site for the Coalition Provisional Authority represents the norm for American public diplomacy: amateurish, unconvincing, and written more for an American audience than an Iraqi one. Before the transfer of sovereignty, when the web site officially stopped any further updates, its chirpy, good news tone was wildly out of sync with the bloody reality of sabotage, bombings, kidnappings, and street battles. But there's not really much direct mail promotions lse going in the American "public diplomacy" effort. ( Click here for a good discussion of this problem .

Adam Feibelman (University of North Carolina at Chapel Hill - School of Law) has posted Contract, Priority, and Odious Debt (North Carolina Law Review, Vol. 85, p. 727, 2007) on SSRN. Here is the abstract: This Article proposes that sovereign nations and their creditors adopt a contractual approach to the seemingly intractable problem of odious debt. Odious debt is generally defined as an obligation incurred by a despotic or illegitimate leader that provides no value to the population of the sovereign. In recent years, spurred primarily by the financial problems of post-Hussein Iraq, many writers and commentators have proposed doctrinal and institutional mechanisms that would provide odious debt relief. These proposals all face practical challenges, and they would likely involve significant risk of destabilizing financial markets. Under a contractual approach, a majority or supermajority of a sovereign's creditors would have the power to identify odious obligations of the sovereign. The sovereign would then be obligated to repudiate these best buy information ebts. Creditors should have good incentives to employ this arrangement discriminately. More than any other relevant actors, creditors will internalize the costs and benefits of odious debt relief. Even if the private benefits of contractual odious debt arrangements are modest, they might create significant positive externalities.

IN THE NEWS Building on the last post about taking al Qaeda's words seriously , it's fairly obvious that we are doing a poor job in winning the war of ideas, the other front in the war against terrorists. Where Islamist leaders, many from groups like al Qaeda and Hezbollah, can quote Aristotle's writings about tyrannicide to justify their actions, the American voice is much less sophisticated. Voice of America is the exception, and it's only because it provides decent news coverage that it's taken seriously at all. Residents of the Middle East, like people anywhere, are interested in an accurate depiction flower shop new york f daily events. Voice of America provides a credible newsfeed, but that's about it. The now-defunct but still live web site for the Coalition Provisional Authority represents the norm for American public diplomacy: amateurish, unconvincing, and written more for an American audience than an Iraqi one. Before the transfer of sovereignty, when the web site officially stopped any further updates, its chirpy, good news tone was wildly out of sync with the bloody reality of sabotage, bombings, kidnappings, and street battles. But there's not really much else going in the American "public diplomacy" effort. ( Click here for a good discussion of this problem .

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