3rd International Conference in Economics 2013 "Causes and consequences of excessive sovereign debts"

Submitted papers should discuss two aspects around excessive sovereign debt: On one hand we want to diagnose the problems that occur following a serious shortfall on the capacity of a country to pay its debt - such as hindered capacity to pay civil servants' wages, suppliers, pensioners, etc. What are the consequences of this to a country as a whole? What are the best measures in order to achieve a normal situation with the minimum loss of welfare to the country's population in general? Should the State let the markets work for themselves and believe the situation will correct itself? On the other hand, should that be the case, are the laws of the country consistent with those market adjustments, such as lower wages, cuts on subsidies and pensions, etc.?