When debtors cannot repay, it is better to secure debt relief through an organized process than a chaotic one.Proposals for such a process have been offered under various names, including an "international bankruptcy regime" and a "sovereign debt restructuring mechanism." (a) Describe and evaluate the essential concepts in these proposals.(b) What is the rationale for an SDRM?(c)How would an SDRM, had it been adopted, have affected the evolution of the Greek sovereign debt crisis or the recent debt restructurings?