Transnational Networks of the Sovereign Debt Restructuring Regime

This chapter looks at the role of social networks concerned with sovereign insolvency, in which European Union and European actors are embedded, and to what degree policy cohesion is achieved as well as how professionals compete over controlling the issue of sovereign debt restructuring. In the regime of sovereign debt restructuring, we see clear articulations of issue control by various professional actors, primarily between lawyers and bankers and policymakers. The chapter takes to the case of the Greek debt restructuring to analyze the networks implicated thereof and shows how they are connected to other networks of the regime of sovereign debt restructuring. It analyzes the expert networks and the professionals embedded in them, as well as the outcomes of these networks in order to see how they differ from the Principles Consultative Group and Group of Trustees networks.