In the broadest terms, it refers to a body of people (e.g. a government) that has ultimate authority over a state.
In the world of finance, it may refer to sovereign debt or sovereign bond, which is the money owed by a country's government, or an historic gold coin issued in the UK.
The term 'sovereign debt crisis' often hits the headlines when a country experiences economic turbulence and can't afford all of its debt repayments. Greece is one example of a country that's faced this situation in recent years.
What you need to know about sovereign.
A country's sovereign debt will often take the form of bonds, which are issued by its government in order to raise money. Countries with weak credit ratings might look to borrow money directly from institutions like the World Bank.
Governments may increase their sovereign debt in an attempt to drive economic growth. The money they generate by taking on more debt can be invested in things like infrastructure projects.
Bonds issued by more established countries like the US and Britain are generally deemed low-risk, since they're not expected to default on their debts.
Find out more about sovereign.
A country's ability to borrow money may be influenced by its credit rating. For more on this, see sovereign credit rating.
Sovereignty is a political concept that refers to dominant power or supreme authority. In a monarchy, supreme power resides in the "sovereign", or king. In modern democracies, sovereign power rests with the people and is exercised through representative bodies such as Congress or Parliament.
Some common synonyms of sovereign are autonomous, free, and independent. While all these words mean "not subject to the rule or control of another," sovereign stresses the absence of a superior power and implies supremacy within a thing's own domain or sphere.
adjective. A sovereign state or country is independent and not under the authority of any other country. Lithuania and Armenia signed a treaty in Vilnius recognizing each other as independent sovereign states. Synonyms: independent, autonomous, self-governing, free More Synonyms of sovereign.
A sovereign is a ruler, a king, a lord, and Scripture often refers to God as the one who rules over all. His most common proper name, Yahweh (see Ex. 3:14) is regularly translated Lord in the English Bible. And Lord, in turn, is found there over 7,000 times as a name of God and specifically as a name of Jesus Christ.
Sovereignty of God in Christianity can be defined as the right of God to exercise his ruling power over his creation. Sovereignty can include also the way God exercises his ruling power.
Sovereignty itself is, of course, not subject to law, for it is the author and source of law; but, in our system, while sovereign powers are delegated to the agencies of government, sovereignty itself remains with the people, by whom and for whom all government exists and acts.
Far from being a force for aggression, sovereignty has historically been “a way of promoting peace by establishing boundaries,” professor Jeremy Rabkin argues in his book The Case for Sovereignty.
' The term has been further specified across several kinds of sovereignty, including titular sovereignty, internal and external sovereignty, legal sovereignty, de facto and de jure sovereignty, and popular sovereignty.
Sovereignty is the right of a nation or group of people to be self-governing. We speak of countries such as the United States as being sovereign political powers because they are completely independent of any other political entity. Political scientists often refer to this as absolute sovereignty.
God is the ruler with absolute power. He made all things; he is not the work of man's hands, nor a god of man's imaginations. We find the phrase (verse 24), “Sovereign Lord, who made the heavens and the earth and the sea and everything in them,” throughout the Scriptures.
Here is a definition of each: God's Sovereign Will is what God, by his limitless power and knowledge, has eternally ordered and determined to happen from beginning to end in all of his creation, all for his glory.
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