Summary and Outlook

Zusammenfassung

The history of sovereign borrowing is often seen as a history of sovereign debt defaults and sovereign debt crises. As a consequence, sovereign debt has often found itself in the midst of highly emotive political and public debates. The recent financial and economic crisis has placed debt back at the heart of the problem of financial irresponsibility. Today, concerns about sovereign debt are widespread, and it is not only and no longer a purely developing country problem.