The economist famous for predicting the 2008 financial crisis has analyzed Argentina’s current dispute against vulture funds warning “holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors.”
Former Falkland Islander Alejandro Betts was awarded on Friday an Argentine DNI and passport, with his alleged Falklands address, at an official ceremony at the Argentine UN embassy office in New York.
After a day of fury and discussions with cabinet members, advisors and experts, Argentine president Cristina Fernandez will be sending a government delegation to New York to meet Judge Thomas Griesa and the hedge funds holdouts' solicitors and begin, hopefully, a round of negotiations to reach a settlement on the bonds litigation.
The following piece by Charles Lane published in the The Washington Post offers an interesting debate about future bailouts and sovereign debt restructuring, following on Argentina's case.