Equally worrying is Africa's unsustainable debt burden.

Unsustainable private debt problems must be resolved by defaults, debt reductions, and conversion of debt into equity.

Private and public debt levels are high and possibly unsustainable.

And, without a return to growth, its debt burden will remain unsustainable.

Emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

4. Emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

Investors naturally respond to unsustainable debt by selling bonds until interest rates become ridiculous.

If heavily indebted countries have to pay heavy risk premiums, their debt becomes unsustainable.

As a result, large and potentially unsustainable stocks of private and public debt remain.

3. Also emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

3. Also emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

And, to stabilize debt GDP ratios, the denominator must start rising otherwise, debt levels will become unsustainable, despite all efforts to reduce deficits.

Of course, this may not be the breaking point beyond which the debt burden becomes unsustainable.

Latin America experienced this dilemma in the 1980 s, when its debt arithmetic had become unsustainable.

However, the general improvement masks exceptions, as individual countries are still facing large unsustainable debt burdens.

But if market nervousness persists and interest rates remain high relative to rates for secure German debt, the debt burden will rapidly become unsustainable.

Indeed, increased debt servicing obligations resulting from higher interest rates, along with weakening export prospects, ran the risk of reproducing an unsustainable debt burden.

Such profligacy has led to levels of debt that will become unsustainable if we do not act.

Crisis torn peripheral European economies still suffer from unsustainable debt loads and serious productivity and competitiveness problems.

Recent studies show that once a government s debt burden reaches a threshold perceived to be unsustainable, more debt will only stunt, not stimulate, economic growth.

That left individual eurozone members exposed to brutal pressure by financial markets at a time when excessive private debt was turned into unsustainable public debt.

Debt sustainability indicators for Haiti are mixed. It is estimated that the debt export ratio in net present value terms is high (187 per cent), suggesting that Haiti's debt is unsustainable.

It also welcomed the reference to the need to consider debt relief or restructuring for those middle income countries that had an unsustainable level of debt.

Those high interest rates strangle businesses and households, causing further economic collapse and making debt ever more unsustainable.

We have seen what ultimately results when unsustainable spending leads to exploding debt economic chaos and human tragedy.

Meanwhile, unsustainable budget deficits and public debt in most advanced economies have severely limited the scope for further fiscal stimulus.

Still, fiscal conditions in the advanced economies remain unsustainable, with many OECD members debt levels hovering around 100 of GDP.

Finally, GDP indexed bonds and other tools for dealing sensibly with unsustainable debt could be applied exclusively to member states debt not covered by the program and in line with international best practices for sovereign debt management.

Even for those benefiting from the HIPC Initiative, the economic conditions on which their debt relief was based have considerably worsened, and several countries, including those few that received debt relief, have backtracked into further unsustainable debt.

The result was massive misallocation of human resources, insufficient infrastructure investment, over reliance on credit entitlements, and, of course, unsustainable debt.

To be sure, this is a dangerous product, and it did cause many families to fall into an unsustainable debt trap.

Indeed, history suggests that severe recession and socialization of private losses often lead to an unsustainable build up of public debt.

(e) To reduce the unsustainable debt burden of developing countries through such actions as debt relief and, as appropriate, debt cancellation and other innovative mechanisms geared to comprehensively addressing the debt problems of developing countries, in particular the poorest and most heavily indebted ones

(e) To reduce the unsustainable debt burden of developing countries through such actions as debt relief and, as appropriate, debt cancellation and other innovative mechanisms geared to comprehensively addressing the debt problems of developing countries, in particular the poorest and most heavily indebted ones

They could have said to their EU colleagues, Look, we have no choice but to restructure what is clearly an unsustainable debt.

Additional progress has been made in reducing the unsustainable debt burdens impeding the ability of developing countries to meet the Millennium Goals.

That left individual eurozone members exposed to brutal pressure by financial markets at a time when excessive private debt was turned into unsustainable public debt. Suddenly, the eurozone had become a straightjacket.

It was already clear in the first half of 2010, when Greece lost access to financial markets, that the public debt was unsustainable.

Moreover, fiscal and sovereign debt strains are becoming worse as interest rate spreads for Spain and Italy have returned to their unsustainable peak levels.

As a result, many developed countries have built up dangerously large public debts and even larger non debt liabilities, owing to unsustainable growth patterns.

Both arrangements will eventually become untenable, because they will generate either an intolerable rate of inflation or an unsustainable burden of public sector debt.

Furthermore, it is clear from the Secretary General's report that the external debt burden is having an adverse effect on the achievement of the Millennium Development Goals and that Africa's debt, in particular, is unsustainable.

Jobs could be eliminated by technology, but not by global competition and, unsustainable, debt fueled domestic demand growth helped to delay the current employment deficits.

France has not adopted a balanced budget in the last 30 years, and its public debt reached an unsustainable 1.7 trillion ( 2.2 trillion) in 2011.

This means extending the maturity dates of debts and reducing the interest rate on the new debt to levels much lower than currently unsustainable market rates.