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Since the 2008 global financial crisis, there has been a wave of sovereign debt defaults and restructurings in different countries around the Globe. More than 10 countries have defaulted and restructured their sovereign debt with private creditors, including Greece, which in 2012 had the largest sovereign debt restructuring in history; also Argentina defaulted in 2014 and reached a settlement with creditors in April 2016. General Assembly of the United Nations adopted resolution “Towards the establishment of a m...