sentences:  However, various industrial countries continued to undertake austerity policies to cut deficits, reduced spending, as opposed to following Keynesian theories.From late 2009 European sovereign-debt crisis, fears of a sovereign debt crisis developed among investors concerning rising government debt levels across the globe together with a wave of downgrading of government debt of certain European states.Concerns intensified early 2010 and thereafter making it difficult or impossible for sovereigns to re-finance their debts.