After a 14-year standoff, Argentina has agreed to settle with the biggest holdout creditors who bought bonds on which it defaulted in 2001, letting the new government in Buenos Aires resume the life of an ordinary sovereign in the global capital markets. The $4.65 billion settlement follows more than a dozen agreements with smaller holdouts since the start of 2016 and estimated at over $1.5 billion. It is good enough for Argentina, and very good indeed for some of the holdouts—but the entire episode, and its conclusion, is bad for the rest of the world and for the international financial system.
http://blogs.piie.com/realtime/?p=5451&utm_source=feedburner&utm_medium=%24%7Bfeed%7D&utm_campaign=Feed%3A+%24%7BRealTime%7D+%28%24%7BRealTime%7D%29
I-BRIDGE's blog (Link Campus University's Research Centre on Global Affairs) - editor, Marco Emanuele - Critical thinking, complexity, international relations (Twitter, @Glob_Eye - Facebook, https://www.facebook.com/marco.emanuele.50)
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