No movement
Argentina has defaulted again. But a deal with its creditors is not out of the question
DISAPPOINTMENT, melodrama, and a faint glimmer of hope. The ingredients of the latest instalment of Argentina’s legal stand-off with its “hold-out” bondholders were painfully familiar. The disappointment came late on July 30th, when Argentina entered into default for the eighth time in its history (see chart). The melodrama came courtesy of Axel Kicillof, the economy minister, railing against Thomas Griesa, the New York court judge whose ruling precipitated this moment. And the hope is that a settlement remains possible.
This article appeared in the The Americas section of the print edition under the headline "No movement"
From the August 2nd 2014 edition
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