'Sovereign Debt in the 21st Century'

The accelerating growth in sovereign debt stocks around the globe will profoundly affect the lives of billions of people in this century. Over-borrowing by, and over-lending to, sovereign debtors is not a new phenomenon. The last quarter of the 20th century saw its fair share of sovereign debt problems starting with the Latin American debt crisis that began in 1982. How will the resolution of unsustainable sovereign debts in this century differ from similar exercises in the past?.