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Why Not Default? - Princeton Scholarship Online
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Why Not Default?

Jerome Roos


The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. This book unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? The book provides a sweeping investigation of the political economy of sovereign debt and international crisis management. It takes readers from the rise of public borrowing in the Italian city-states to the gu ... More

Keywords: European debt crisis, finance, capitalism, democracy, international debts, sovereign debt, international crisis management, Great Depression, global finance

Bibliographic Information

Print publication date: 2019 Print ISBN-13: 9780691180106
Published to Princeton Scholarship Online: May 2019 DOI:10.23943/princeton/9780691180106.001.0001


Affiliations are at time of print publication.

Jerome Roos, author
London School of Economics

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