Search results for "Ukrainian crisis"
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Risk profiles for re-profiling sovereign debt
2015
Purpose – This paper aims to use a risk management approach for re-profiling of sovereign debt. It develops profiles that trade off expected cost of financing alternative debt structures against their risk. The risk profiles are particularly informative for countries facing sovereign debt crisis, as they allow us to identify, with high probability, debt unsustainability. Risk profiles for two eurozone countries with excessive debt, Cyprus and Italy, were developed. In addition, risk profiles were developed for a proposal to impose debt sanctions in the Ukrainian crisis and it was shown that the financial impact could be substantial. Design/methodology/approach – Using scenario analysis, a r…
“If you compress the spring, it will snap back hard”: The Ukrainian crisis and the balance of threat theory
2014
The narrative of an aggressive and neo-imperialist Russia that has dominated analyses of the 2014 Ukrainian crisis lacks theoretical rigour. We argue that a sustainable transformation of the Ukrainian crisis requires an accurate analysis of the context of the conflict, which should include an understanding of Moscow’s perception of the threats to its interests. This policy brief develops a theoretical understanding of the Ukrainian crisis through the lens of Stephen M. Walt’s balance of threat theory. We conclude that a realist analysis will help to explain Russian actions.