Too little, too late: the quest to resolve sovereign debt crises

A fresh start for distressed debtors is a basic principle of a well-functioning market economy, yet there is no international bankruptcy framework for sovereign debts.

While this problem is not new, the United Nations and the global community are now willing to do something about it.

Providing guidance for those who intend to take up reform, this book assesses the relative merits of various debt-restructuring proposals, especially in relation to the main deficiencies of the current nonsystem.