The people of Greece are suffering under a debt burden of 174% of its GDP. Youth unemployment is over 50%. This is totally unacceptable and has led to a new change of government. Eurodad, the European Debt and Development agency, has commented: goo.gl/IL76Ds. The debt woes Greece and other European countries are experiencing now are the result of the same approaches that have been taken towards highly indebted countries since the 1970s. They have not solved the problem of sovereign debt, just made it worse. Things need to change. 
The Jubilee movement globally has called for a Sovereign Debt Restructuring Mechanism since the 1980s. The PEJ Centre has been part of Jubilee Australia to campaign for an end to the injustices of the current sovereign debt system. Jubilee Australia’s report, “Alternatives to debtors’ prison: Developing a framework for international insolvency” goo.gl/0RGiVQ outlines the case for a new approach.
Amazingly, on September 9, 2014, the United Nations General Assembly voted overwhelmingly to begin work on a Sovereign Debt Restructuring Process, in other words, a global bankruptcy process. It should make the creditors more responsible for irresponsible lending practices and enable countries to work out their debt repayments without making the poor and the environment pay.
Debt has also played a role in inhibiting aid for nations impacted by the recent ebola outbreak in Africa. The Columbans in the USA have worked together with Jubilee USA to campaign for debt relief for ebola-affected countries
goo.gl/kNPKsc.