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It would have been better to have done a full restructuring of Greece's debts now.
Instead, Greece should have undergone a full restructuring combined with a series of pro-growth measures.
The third year, corrective action must be taken, and the fourth year, the school must develop a full restructuring plan.
At present, national governments are not permitted to grant restructuring aid to a company more than once in a decade, but they can provide short-term rescue aid within 10 years of handing a company a full restructuring package.
Governments of the affected companies agreed Monday not to negotiate with the company before Dec. 4, and G.M. said Wednesday that it hoped to announce a full restructuring plan within a few weeks.
A number of other retailers have chosen to go through a CVA, including New Look and Carpetright, while House of Fraser is expected to make a formal CVA proposal next month, with a full restructuring in place by early 2019.
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The subject rated the extent of restructuring involved in generating the solution on a scale from 0 (no restructuring) to 3 (full restructuring).
At face value, the top spot at Alcatel-Lucent looks like a job nobody wants: the Franco-American network supplier is unprofitable, in full restructuring mode and is still paying for the huge $11 billion merger that brought it into existence in 2006.
Here's the link to the full restructuring announcement.
Though some details have been made public, the full restructuring will not be completed until March 2015.
And even where states might not be ready to embrace full restructuring, smaller steps can still help.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com