Restructuring a nation's debt.

The article focuses on economic conditions of Greece. It informs that Sovereign debt is needed to be restructure which may or may not prevent Greek from fiscal adjustment. A large amount of Greek bonds have been discounted by European commercial banks with the European Central Bank (ECB). It mentions that Greece's bond debt is approximately 90% of the total is governed by Greek law which is an advatage for Greece in a restructuring of its debt. A restructuring that impairs the value of that paper could therefore place further strains on the Greek domestic financial sector.