Since the financial crisis all manner of sovereign debtors have sought relief. Ukraine wants concessions from bondholders; Greece, which has already obtained that, wants forgiveness from other governments too. They are appealing not just to creditors' compassion, but to economic efficiency: diminishing their burden will be for the greater good, they suggest, in that it will provide a boost to growth.
The Economist: Forgive and remember
International Monetary Fund (IMF) Managing Director Christine Lagarde speaks at a press conference after the IMFC meeting at the IMF/WB Spring Meetings in Washington, DC, on April 18, 2015.
