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"If all this happens we will have to address the issue of whether a light restructuring of Greek debt could be pursued in which maturities are lengthened, with respect to debt servicing, and interest rate levels (on EU loans are reduced)," he said.
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"A number of them had failed to deal with their underlying issues by hiding behind light touch restructuring processes, especially Company Voluntary Arrangements.
"In light of restructuring," said one lawyer involved in the realignment case, "it could be that a new agreement will have different powers and language.
The fact is that the economic fallout within the rest of the EU will be far more limited than it would have been a year ago in light of restructuring initiatives already made by EU banks and corporates in the meantime.
He was aware that a restructure – which would inevitably entail redundancies – would not be universally popular: "Any form of restructuring however light it is, is always detested.
Because many marine species such as squid and zooplankton are guided by natural light patterns, the introduction of artificial light is likely influencing their behaviors and restructuring communities.
Any administration concerns about further "restructuring" seem small in light of our need to find a way to protect ourselves.
Chan, meanwhile, has spent time as an investor and co-founded smart light company Leeo before leaving in 2015 following a restructuring.
Indeed, when the U.S., the Soviet Union and the United Kingdom signed the Potsdam Agreement in August 1945, they agreed on the "reduction or destruction of all civilian heavy-industry with war potential" and on "restructuring the German economy toward agriculture and light industry".
Lloyds, which is 39 percent owned by British taxpayers, is finally starting to see light at the end of the tunnel after years of restructuring.
A sprawling European multinational that makes everything from light bulbs to televisions, it has been through numerous bouts of restructuring.
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