Vince and the Lib Dem view on the debt issue was clearly outline in our manifesto see http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/LD_uk_manifesto.pdf page 10.  There is little doubt that the current global systems need reform.  However, this was our view before the current crisis, based on the imbalance between the rich and the poorer countries that forces developing countries to sign up for the 'Washington consensus' exposing them to global financial capital markets without any protection.  Unfettered markets never suited them and now others realise it doesn't suit us either.

http://www.libdems.org.uk/assets/0000/8906/economic_recovery_plan.pdf