Eurozone Debt Crisis: Thinking Ahead
The road to recovery from the eurozone debt crisis is clouded by uncertainty. However, it is clear that if one or more Member States were to leave the single currency or even the EU itself, there would be wide scale economic, political and legal consequences which would affect corporates and financial institutions alike.
Potential risks for businesses (apart from the potential impact on earnings) include whether existing obligations would still be payable in euros, whether existing contracts might be terminable, what provisions may be included in new contracts, what impediments may arise to raising credit or debt, whether capital controls might be imposed and, if so, what effect they might have, whether there might be increased litigation risk and a whole myriad of trading issues.
There are a number of steps that businesses can take to manage these potential eurozone risks and in response to this Hogan Lovells has created a dedicated eurozone crisis taskforce. This taskforce comprises a cross-practice and cross-border team of legal experts focused on ensuring that businesses are able to anticipate and respond to the complex business and legal issues surrounding the eurozone debt crisis.
To get in touch with any member of our eurozone crisis taskforce you can either contact a Hogan Lovells lawyer in your relevant jurisdiction, or you can email us now at email@example.com