Wednesday was an important day for sovereign debt in the US Court of Appeals. Jubilee USA was there and provides a useful, quick write up. See below.
For background, and what I take to be the main policy implication, see a piece The Globalist asked me to write last December at http://www.theglobalist.com/StoryId.aspx?StoryId=9840. My argument was that it is now even in the interest of the private creditors to have an international sovereign debt workout mechanism, besides being best for social justice in the debtor countries.
Graduate Program in International Affairs
The New School for Public Engagement
66 West 12th Street, Sixth Floor
New York, NY 10011, USA