Argentina defaults

Negotiations with holdout investors and a last-minute Argentine bank proposal fell through yesterday, triggering Argentina's sovereign default following its midnight deadline.

The default will further hurt Argentina's economy which is already suffering from a recession and marks another set-back to the country's attempts to return to the global credit markets.

Argentina has been isolated from international markets since its $100B default in 2002.


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Comments (7)
  • RS055
    , contributor
    Comments (5597) | Send Message
    So - that's bullish right? Time to buy some small cap biotechs?
    31 Jul 2014, 02:03 AM Reply Like
  • MisterJ
    , contributor
    Comments (1176) | Send Message
    Buy the default.
    31 Jul 2014, 02:12 AM Reply Like
  • RS055
    , contributor
    Comments (5597) | Send Message
    Sell the resurrection.
    31 Jul 2014, 02:15 AM Reply Like
  • permanent
    , contributor
    Comments (490) | Send Message
    It is not really a surprise. Argentina can´t pay because otherwise other creditors will also demand more dough from the last debt restructuring.
    Hedge funds never want to give in.
    It is just a poker game and we can´t see yet who will win at the end.
    A Default won´t help Argentina but it also won´t help the Hedge Funds.


    Good thing: No one can loose on there reputation becaus Argentinas reputation as a debtor nation is bad and the reputation of gready Hedge Funds is anyways bad.
    31 Jul 2014, 04:03 AM Reply Like
  • kmi
    , contributor
    Comments (4600) | Send Message
    Argentina never really reentered markets so most of the 'default' implications were already in effect anyway.
    31 Jul 2014, 04:46 AM Reply Like
  • permanent
    , contributor
    Comments (490) | Send Message
    They will push Problems into next year so that debtor who agreed on restructuring can´t benefit anymore.
    Timeline is December.
    31 Jul 2014, 04:56 AM Reply Like
  • VelcroWonderCat
    , contributor
    Comments (44) | Send Message
    Wait... You mean there's real consequences to this? They can't just do what the US will ultimately have to do to pay its debts -- keep their printing presses going and going and going and going and going?
    31 Jul 2014, 07:09 AM Reply Like
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