The existence of this page does not imply an opinion on the part of ISDA as to the likelihood of any such event.
This page is intended as an information resource to assist market participants in their contingency planning for the potential exit of one or more member states from the Eurozone. If a Eurozone exit event were to happen, details of any industry calls or meetings would be posted on this page.
Open the most recent (February 20, 2015) Eurozone Contingency Planning Update
These updates are free public documents by ISDA, and will be posted by date in the table at the bottom of the page.
Asset Class-specific Memoranda (as provided to ISDA) on the potential impact of a Eurozone exit may be viewed by ISDA Members:
Login Required
Eurozone briefing notes from ISDA member firms on topics such as the key legal issues and the potential impact on derivatives documentation:
Below are briefing notes from ISDA member firms relating to the Eurozone which deal with topics such as the key legal issues and the potential impact on derivatives documentation. ISDA has established it as central resource for information to assist market participants in their contingency planning. The existence of this page does not imply any view on the part of ISDA as to the likelihood of the occurrence of any event covered by the linked documents.
| Date | Firm |
Title |
|---|---|---|
| July 24, 2012 | Teigland-Hunt LLP |
ISDA’s Illegality/Force Majeure Protocol – Teigland-Hunt LLP Client Alert |
| July 12, 2012 | Clayton Utz |
ISDA Eurozone Contingency Planning – New Illegality/Force Majeure Protocol |
| July 3, 2012 | Clifford Chance | |
| May 25, 2012 | Field Fisher Waterhouse |
The Eurozone Crisis and Financial Transactions: A Comprehensive Guide |
| June 21, 2012 | Linklaters | |
| January 27, 2012 | K&L Gates | |
| January 26, 2012 | K&L Gates |
Potential Impact of a Eurozone Break-up on Foreign Exchange Swaps and Currency Options Contracts |
| January 20, 2012 | Ashurst | |
| January 12, 2012 | Clifford Chance | The Eurozone Crisis and Derivatives . |
|
October 28, 2011 |
Allen & Overy | The Euro and Currency Unions |
|
October 26, 2011 |
Allen & Overy | Sovereign State Restructurings and Credit Default Swaps |
|
December 14, 2010 |
Allen & Overy | State Insolvency – What Bondholders and Other Creditors Should Know |
Neither the existence of these pages nor the content of any documents or information posted on them should be taken to imply any opinion on the part of ISDA as to the likelihood of the occurrence of any such event.
Latest
Response to EC Call for Evidence on Tax Omnibus
On March 30, ISDA, the International Securities Lending Association and the Association for Financial Markets in Europe responded to the European Commission’s (EC) call for evidence on the tax omnibus. The associations argue that inconsistent interpretation of “beneficial ownership” among...
Managing Risk for Australian Superannuation Funds
Assets managed by the Australian superannuation sector reached A$4.5 trillion in December 2025, equivalent to around 160% of Australia’s GDP. Given its size, the sector has rapidly expanded its global footprint, with the share of offshore investments growing as a...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
Next Steps on a Much Improved Basel III Endgame
Publication of the revised Basel III endgame proposal earlier this month marks an important step towards completion of the global capital reforms, giving banks much-needed clarity on the likely calibration of the rules in the US. The new proposal is...