Sovereign Debt in the Light of Eternity

Lee C. Buchheit presents a critique of the modern use of sovereign debt as a way to manage budget deficits. He discusses the historical, legal, financial, and political dimensions of sovereign debt management, highlighting in particular the limited capacity of the judiciary to effect sovereign debt restructuring. Buchheit comments that sovereign debt has recently become an easier path for sovereigns than frugality or taxation, and argues that the reliance of contemporary democracies on sovereign debt has limited the capacity of future generations to borrow in times of need.
Buchheit speaks at the launch of 'Sovereign Debt Management', edited by Rosa M. Lastra and Lee C.Buchheit. 'Sovereign Debt Management' contains a comprehensive and rigorous analysis of this complex and highly topical area of law.
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