FMLC Sovereign Debt Scoping Forum

The Sovereign Debt Scoping Forum provides experts the opportunity to meet and deliberate on legal uncertainties affecting central government debt. The FMLC has a long-standing history in tackling sovereign debt issues: it hosted a seminar on this topic in 2012 and produced a paper on pari passu clauses in 2005. Whilst the debate surrounding the interpretation of the pari passu covenant continues, broader uncertainties related to potential currency redenomination and a member state’s exit from the E.U. (an increasingly relevant topic) may also arise.