Sovereign Debt Crisis: The New Normal and the Newly Poor Palgrave Macmillan Studies in Banking and Financial Institutions

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This book is about sovereign debt, fiscal deficits, the newly poor and the deceit of the State Supermarket. The issues confronting the global economy, particularly America, Europe and Japan, are inseparable from the current lack of social and political leadership as well as of a credible plan to deal with the mountains of debt amassed by sovereigns, households and companies, particularly banks. The many practical examples in the book expose the situation into which western society has cornered itself. It offers advice on how to rise up from this, even if it means slaughtering unaffordable endowments, unwarranted government rescues, and other proliferating but unsustainable big spending projects. Sovereign Debt Crisis considers the risks of losing sight of past failures, and our society's ability to solve its problems, with debt heading the list.