In summer 2018, Greece left the EU rescue umbrella. Enormous efforts were made by the Greek state and its population to cut back its over-consumption and recurring new debt. The austerity measures were associated with numerous reforms aimed at advancing the Greek economy. Doubts that sustainable...

For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries has intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis,...