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Governments take big step towards ending debt crises

Developing countries vote united for a new regime, EU is divided 10th September 2014 The way debt crises are managed could change forever following a UN General Assembly (UNGA) resolution paving the way for an international treaty to manage sovereign debt crises. The resolution, which was passed by 124 votes to 11 yesterday (Tuesday at 21:30 CET), gives the UN the mandate to create a multilateral legal framework for debt restructuring. For the first time since the United Nations began negotiating ...