The first would strengthen bond markets’ legal underpinnings, by introducing strong collective-action clauses in contracts and clarifying the pari passu (equal treatment) provision, as well as promoting the use of GDP-indexed or contingent-convertible bonds. This approach would be voluntary and consensual, but it would miss large parts of the debt market and do little to support economic recovery or a return to sustainable growth.
关于需要更好的方法重组债务，人们正在日渐达成共识，有三个选项浮出了水面。第一个选项是强化债券市场的法律基础，在合同中引入强集体行动条款并澄清同等权利（公平对待）条款，同时促进GDP指数债券或视情况可转换（contingent-convertible）债券的使用。