You've read up on the purported "Mar a lago" accord model? The idea is to threaten a repudiated debt, or agree to convert to long term non interest earning debt alternatives which can't be traded.
That's supposedly done with the agreement of the creditors. There's never paying down of national debt over an extended period of time. That's not how modern finances work. Why they feel the need of cramming down friendly creditors is beyond me.
