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Economy & Business - October-November 2012 (ISSN 1741-7430)
ARGENTINA: The winds of default blow through Buenos Aires again
How Argentina sees itself and how the world sees Argentina are two (very) different things. In mid November fears that Argentina would once again default on its sovereign debt gained strength on the back of a ruling issued by New York District Judge Thomas Griesa. Griesa effectively barred Argentina from paying investors who swapped their defaulted sovereign bonds for GDP warrants (securities linked to economic growth) restructured in 2005 and 2010 - unless it also pays the holdouts suing for full repayment.
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