The original chapters in this book connect the microeconomic and macroeconomic approaches to public debt. Through their thought-provoking views, leading scholar

This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance:

How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled

"Sovereign debt default is an often catastrophic form of economic crisis that can affect the entire global economy. The IMF predicts that, in the coming years,

How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled