This is a very good and well-researched white paper from Boston Consulting Group on the problem of dealing with debt in numerous countries. I am not a fan of their conclusion, but they outline the problems very well, and their preferred path (inflation) is one that has found a lot of favor in a lot of leadership circles (if only privately). Our real job is to figure out what will happen rather than what should happen, which means we need to look at all possibilities and their signposts.