Why do sovereigns default and why don’t they default more often?

paper by Buiter and Rahbari here.

Lee Buchheit: Crusader for financially stricken countries

FT profile here.

Portugal: Waiting It Out

Today’s FT Analysis piece looks at austerity and restructuring in Portugal – here.

Reinhart and Rogoff: Letter to Paul Krugman

here.

Europe’s Lost Keynesians

Rogoff write for Project Syndicate here.