Venue: Palazzo Paolo Prodi, via Tommaso Gar 14 (Trento) – Room 001
Time: 17.30 - 19.00
- Ugo Panizza - Department of International Economics The Graduate Institute, Geneva, Switzerland
An age-old question in international finance is that of what happens to a despotic government’s debts when the despots are vanquished and the good guys take over. Do the good guys have to pay the debts of the despots? There are both moral and economic arguments for why they should not. However, the law is strict: governments inherit the debts of prior governments, regardless of their nature. This lecture will discuss the possibility of using existing law and legal principles as a substitute for an odious debt doctrine in international law.