Michael Waibel is a University Lecturer at the University of Cambridge and the Lauterpacht Centre for International Law. His main research interests are public international law, international economic law with a particular focus on finance and the settlement of international disputes. He teaches international law, WTO law and European Union law. Dr Waibel holds Mag. iur. and Dr. iur. degrees from the Universität Wien, an MSc (Econ.) from the London School of Economics and Political Science and an LLM from Harvard Law School. He is admitted to the New York bar and holds a diploma of the Hague Academy of International Law. He has also worked for the European Central Bank, the International Monetary Fund and the World Bank.

• 1. Sovereign debt crises and defaults; 2. Political responses to sovereign defaults; 3. Quasi-receivership of highly indebted countries; 4. Monetary reform and sovereign debt; 5. Financial necessity; 6. National settlement institutions; 7. Arbitration on sovereign debt; 8. Arbitration clauses in sovereign debt instruments; 9. Creditor protection in international law; 10. ICSID arbitration on sovereign debt; 11. Overlapping jurisdiction over sovereign debt; 12. Sovereign default as trigger of responsibility; 13. Compensation on sovereign debt; 14. Building durable institutions for adjudicating sovereign defaults.

'A remarkable book - to our knowledge, it is the first comprehensive and systematic treatment of this subject. The book combines historical analysis with careful research of case law and other practice. The result is an impressive and original treatment of a subject that is of the utmost relevance for the present state of the international economic system.' Eyal Benvenisti, Jutta Brunnee and Francesco Francioni, jury for the 2012 ESIL Book Prize