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Books > History > History of specific subjects > Economic history
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Hope Springs Eternal - French Bondholders and the Repudiation of Russian Sovereign Debt (Hardcover)
Loot Price: R2,623
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Hope Springs Eternal - French Bondholders and the Repudiation of Russian Sovereign Debt (Hardcover)
Series: Yale Series in Economic and Financial History
Expected to ship within 12 - 17 working days
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In 1918, the Soviet revolutionary government repudiated the Tsarist
regime's sovereign debt, triggering one of the biggest sovereign
defaults ever. Yet the price of Russian bonds remained high for
years. Combing French archival records, Kim Oosterlinck shows that,
far from irrational, investors had legitimate reasons to hope for
repayment. Soviet debt recognition, a change in government, a
bailout by the French government, or French banks, or a seceding
country would have guaranteed at least a partial reimbursement. As
Greece and other European countries raise the possibility of
sovereign default, Oosterlinck's superbly researched study is more
urgent than ever.
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