Clifford Chance

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The Eurozone crisis and exchange controls

3 July 2012

Contingency planning around the Eurozone crisis inevitably turns to the possibility of  exchange controls, whether in the context of a default by a Eurozone member state or a departure from the Eurozone.  What are exchange controls and how will they affect a party's ability to enforce its contractual rights?  In this briefing, we consider the legal framework surrounding exchange controls, what agreements they could affect, and how.

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The Eurozone crisis and exchange controls

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