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

The situation became unsustainable and a civil war began.

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

Sovereign Debt at Square One

The Root of All Sovereign Debt Crises

There was a broad consensus that additional efforts were needed to further reduce the unsustainable debt burdens of many developing counties, in particular of the least developed countries.

Greek sovereign debt has been downgraded to below that of Egypt.

The sovereign debt and banking crises have become even more closely interlinked as banks bought greater amounts of their home countries sovereign debt.

Sovereign debt no longer looks stable.

Reaffirming the Monterrey Consensus of the International Conference on Financing for Development, which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

(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

Welcoming the progress made on the Heavily Indebted Poor Countries Initiative designed to provide deeper, broader and faster relief, while recognizing that significant challenges remain to ensure that countries achieve a lasting exit from unsustainable debt,

The sovereign debt crisis is well known.

(c) To continue to bring together international debtors and creditors in relevant international forums to restructure unsustainable debt in a timely and efficient manner, taking into account the need to involve the private sector in the resolution of crises

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.

A sovereign default in Europe will never be a mere value to be plugged into some statistical risk model.

The dilemma is that, whereas fiscal consolidation is necessary to prevent an unsustainable increase in the spread on sovereign bonds, the short run effects of raising taxes and cutting government spending tend to be contractionary.

16. Welcomes the efforts of, and further calls upon, the international community to support institutional capacity building in developing countries and countries with economies in transition for the management of financial assets and liabilities and to enhance sustainable debt management as an integral part of national development strategies

The convergence of sovereign debt yields implied and required by the establishment of the common currency need not return.

a An option was included to convert US 30 year bond into a US 12 year bond with debt reduction.

Only the state is reliable enough to take on all debt, which private institutions are too risk intolerant to hold.

(c) To bring international debtors and creditors together in relevant international forums to restructure unsustainable debt in a timely and efficient manner, taking into account the need to involve the private sector in the resolution of crises due to indebtedness, where appropriate

A New Approach to Eurozone Sovereign Debt

Sovereign debt restructurings with private creditors

ROME The euro contagion triggered by Greece s sovereign debt crisis has now infected Italy.

The official line so far has been no default, meaning no sovereign default or that of any bank can be considered.

Up to the late 1990 s and the advent of monetary union, most European Union sovereign debt was domestically held in 1998, the overall ratio of foreign held debt was only one fifth.

The link between sovereign debt and bank debt has to be broken once and for all.

In Europe, risks spreads are rising on Italian and Spanish sovereign debt.

And it probably would require that the EU be able to issue sovereign debt.

So much for the sovereign debt crisis, which, given its national, regional, and global impact, has been particularly well covered.

One of the main problems today is too much debt in the global financial system among sovereigns, banks, and households, and especially among the advanced economies.

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.

25. Further welcomes the efforts of and calls upon the international community to support institutional capacity building in developing countries for the management of financial assets and liabilities and to enhance sustainable debt management as an integral part of national development strategies

The risk premia on the sovereign debt of Greece, Ireland, and others have not diminished.

But, for the most part, the sovereign default process is slow motion Kabuki theater.

For over 20 years I have argued that Western Europe s high unemployment rates are unsustainable.

Europe has slipped back into recession without ever really recovering from the financial sovereign debt crisis that began in 2008.

Takes note of the contribution provided by the multi stakeholder dialogues on sovereign debt organized by the Financing for Development Office of the Department of Economic and Social Affairs of the Secretariat

There is a long standing presumption of sovereign immunity states can be sued only under limited circumstances.

Fifth, debt burdens that cannot be eased by growth, savings, or inflation must be rendered sustainable through orderly debt restructuring, debt reduction, and conversion of debt into equity.

Proportion of population with access to affordable drugs on a sustainable basis.

Rumors have swirled about a possible downgrade of France s sovereign debt, accompanied by speculation about the consequences for French banks.

Countries contemplating joining the bandwagon of sovereign bond issuers would do well to learn the lessons of the all too frequent debt crises of the past three decades.