How not to deal with a debt crisis – Social Europe

Jayati Ghosh warns against historically disastrous approaches to the sovereign-debt crisis hitting low- and middle-income countries. Sri Lanka faces crippling debt repayments of more than $31 billion in this decade, unless these are reduced by write-offs or restructuring (GoodIdeas/shutterstock.com) In the 1920s and early 30s, John Maynard Keynes was embroiled in a controversy with the…