Virtually every emerging market country has experienced recurrent sovereign debt problems.

The Root of All Sovereign Debt Crises

Sovereign debt restructurings with private creditors

Noted the request of Iraq for the cancellation or reduction of their sovereign debt.

In the case of sovereign debt, however, there is no binding international law that permits bankruptcy.

While its depth and length cannot be predicted, a continued credit crunch, sovereign debt problems, lack of competitiveness, and fiscal austerity imply a serious downturn.

And the evidence confirms that the euro crisis is not really about sovereign debt, but about foreign debt.

Currently, they are wrestling with widening sovereign debt problems and high unemployment.

Much is being made of high levels of sovereign debt on both sides of the Atlantic, and in Japan.

But, this time, the default has been triggered by a significant shift in the international sovereign debt regime.

14. Management of Africa apos s external debt (in part)

And that answer speaks to the disturbing realities of modern day central banking (or, to be more exact, central banking in the post bubble world of debt overhangs and sovereign debt concerns).

Otherwise, China might already have experienced its own localized sovereign debt crisis and, perhaps, hyper inflation.

But the proposition that the ongoing sovereign debt crisis on Europe s periphery is a reason to appoint a European is wrong.

With the onset of the European sovereign debt crisis in 2010, banks appetite for public debt fell again.

Indeed, by putting a floor on the price of sovereign debt and any accompanying inflation, central bank intervention would reduce the real value of the debt and facilitate repayment.

The economists Carmen Reinhart and Kenneth Rogoff have studied centuries of sovereign debt crises, and remind us that today s developed world has a forgotten history of sovereign default.

NEW YORK A recent decision by a United States appeals court threatens to upend global sovereign debt markets.

After the Argentine crisis, President George W. Bush s administration vetoed proposals to create a mechanism for sovereign debt restructuring.

Critics have complained that it would reduce liquidity in important markets, such as those for non US sovereign debt.

Indeed, Italy boasted the lowest deficit to GDP ratio in the eurozone, and the Italian government had no problem refinancing at attractive interest rates.

And the US is clearly not alone in its malaise, with the eurozone fighting a far more urgent sovereign debt crisis.

Nonetheless, Argentina s latest debt trauma shows that the global system for sovereign debt workouts remains badly in need of repair.

Investors were not worried about default risk on Spanish or Irish sovereign debt, or about Italy s chronically large sovereign debt.

NEW HAVEN It might not seem that Europe s sovereign debt crisis and growing concern about the United States debt position should shake basic economic confidence.

At the heart of the issue is the dismemberment of a sovereign Member of the United Nations, justified on the basis of pragmatic reality.

One would need a sophisticated capability for monitoring and enforcing fiscal policy and sovereign debt or else end up with a repeat of the current situation.

BERKELEY Fiscal profligacy did not cause the sovereign debt crisis engulfing Europe, and fiscal austerity will not solve it.

Bolivia s 1988 buyback of close to half of its defaulted sovereign debt, an operation funded by international donors, is a classic example.

Of course, I am confident that the eurozone s ongoing sovereign debt crisis will be overcome, and that a more integrated and effective Europe will emerge.

It was only this year, when financial markets started to worry about the accumulation of sovereign debt, that interest rate differentials began to widen.

This also implies that Eurobonds will never constitute the silver bullet that some had hoped would solve Europe s sovereign debt crisis.

Investors subsequent efforts to price in the risk of a eurozone breakup not the volume of sovereign debt caused bond yields to spike.

Regardless of how the current impasse is resolved, the ruling raises many questions for issuers and holders of sovereign debt.

The European Central Bank s announcement of its outright market transactions program has reduced the risk of a sovereign debt crisis in the eurozone periphery and a breakup of the monetary union.

As a result of Chile s cautious fiscal strategy, the country has a national debt that amounts to only 16 of GDP and a sovereign debt rating that is the highest in South America.

But the ongoing legal saga of Argentina s fight with holdout creditors shows that the international system for orderly sovereign debt restructuring may be broken.

BERKELEY Fiscal profligacy did not cause the sovereign debt crisis engulfing Europe, and fiscal austerity will not solve it.

Реальность сегодняшнего дня во многих развитых странах составляет кризис суверенного долга, бюджетные дефициты и, несмотря на это, неготовность сокращать бюджетные расходы.

Lee Buchheit, a leading sovereign debt attorney and the man who managed the eventual Greek debt restructuring in 2012, was harshly critical of the authorities failure to face up to reality.

Secondly, we welcome the handling of the debt issue through the outright cancellation of the debt of 18 of the poorest countries.

To compound those problems, we are also spending 40 per cent of our budget on debt repayment.

This means that Nigeria would be able to postpone some payments, but will be charged full market interest rates on the postponement, and is expected to eventually pay off the debts in full.

So far, creditors reject Nigeria's calls for debt reduction, and instead offer Nigeria the phony solution of debt rescheduling.

In the aftermath of the global financial crisis, the United Nations Commission of Experts on Reforms of the International Monetary and Financial System urged that we design an efficient and fair system for the restructuring of sovereign debt.