Die Bundesrepublik Deutschland ist für viele Entwicklungsländer ein wichtiges Gläubigerland. In der Gruppe der "Highly Indebted Poor Countries" (HIPCs), einer von Weltbank und IWF klassifizierten Gruppe von 40 hoch verschuldeten und besonders armen Ländern, gehört die deutsche...

Fiscal austerity has not led to a return of confidence and it is not at all certain that the current crisis strategy can be sustained politically and will eventually succeed. Government bonds of crisis-hit countries have lost their safe asset status and high risk premiums are impairing monetary...

The controversy about sovereign debt cuts loomed prominently throughout crisis in the European Union (EU), as the EU legal rules were viewed to impose strict limitations on debt restructuring involving public creditors due to moral hazard concerns enshrined in the legal ban on bailouts. This...