Tuesday August 11, 2020

Argentina on a knife-edge as it awaits debt ruling

A US court action on Argentinian debt poses the question: when is it okay for an economicallly ailing nation to burn its bondholders?

6th July, 2014
Buenos Aires: Argentina has been placed on a negative watch list as the crisis deepens. Picture: Getty

Asolitary judge in an American court this weekend is on the brink of driving Argentina into default and causing tremors to the entire sovereign debt system.

The judge in question - Thomas P Griesa of the US Federal District Court in New York - has his defenders. But the case over which he has presided has taken on huge implications.

It is ''the most significant litigation that the sovereign debt markets have ever seen, Mark...

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