I don't mean to sound like an evangelist but i've been waiting for a currency to fail to see how/if crypto-currencies have the ability to get the country up and running again. In theory the tools are there if they can wrestle value out of their slumping traditional currency.
S.&P. Says Argentina Has Defaulted
11–20 of 195 posts
Re: S.&P. Says Argentina Has Defaulted
#12Well, the recent Greek default seems to have been handled quite gracefully... (but of course, Greece is part of the EU zone, so there was a lot of help available)
Re: S.&P. Says Argentina Has Defaulted
#13The worst thing about living in Uruguay is being right next to Them. Now this happens, and we're going to get the fallout.
A lot of Argentinians visit Uruguay for vacations, and many also keep their savings in Uruguayan banks. I think this won't affect Uruguay negatively.
Also, it's sad that you have such a negative view on your neighbors, given that you are very much alike and that they boost Uruguay's economy.
Re: S.&P. Says Argentina Has Defaulted
#14The worst thing about living in Uruguay is being right next to Them. Now this happens, and we're going to get the fallout.
I don't know why this is being down voted, take a look at what happened in the year 2001, we're terribly dependent on them (thought we're trying not to), this news scares the hell out of me since I don't want it to happen again, last crisis was terrible for us too.
Re: S.&P. Says Argentina Has Defaulted
#15The worst thing about living in Uruguay is being right next to Them. Now this happens, and we're going to get the fallout.
And here we thought you were going to say that the worst thing about living in Uruguay was the rampant nationalism between Uruguayans and Argentinians..
Maybe Messi can chip in, i hear he has some dollars stashed for a rainy day: http://www.bbc.com/news/world-europe-22877408
Re: S.&P. Says Argentina Has Defaulted
#16The worst thing about living in Uruguay is being right next to Them. Now this happens, and we're going to get the fallout.
And here we thought you were going to say that the worst thing about living in Uruguay was the rampant nationalism between Uruguayans and Argentinians..
I don't see how this adds to the conversation. Also, Argentina and Uruguay have similar racial composition & as far as I can tell see themselves as the same people of the Rio Plata.
Re: S.&P. Says Argentina Has Defaulted
#17A decent article on the mechanics of why these holdouts were able to force Argentina's hand: https://mises.org/daily/6825/Understanding-Argentinas-Coming...
Re: S.&P. Says Argentina Has Defaulted
#18Wow ! Just one investor can bring a country to its knees !
These funds are like the patent trolls. The difference is that with patent trolls you are trapped in a inneficient patent system while in this case Argentina has a big part of the responsability in the way the government reestructured 93% of the debt.
Not exactly the same... patent trolls don't do anything, and more often than not their patents aren't really novel inventions.
These funds, however, lent Argentina money, while the country promised to pay back all of it, plus interest. I wouldn't like to get back less than I was promised, or even less than I lent in the first place.
Re: S.&P. Says Argentina Has Defaulted
#19To understand background and potential implication, I found http://dealbook.nytimes.com/2014/07/30/q-a-whats-behind-the-... helpful.
> Argentina issued bonds under New York law.
Until I read this, I assumed that international bonds were issued under international law, with the World Bank as the arbitrator. With the US as both lender and arbitrator, it seems to give them a lot of power.
Re: S.&P. Says Argentina Has Defaulted
#20Earlier quoted context omitted.
And here we thought you were going to say that the worst thing about living in Uruguay was the rampant nationalism between Uruguayans and Argentinians..
I don't see how this adds to the conversation. Also, Argentina and Uruguay have similar racial composition & as far as I can tell see themselves as the same people of the Rio Plata.
I've visited Uruguay, and on one trip when I told my hosts I planned to go over to Buenos Aires for a day, they said I shouldn't go because "the people there are on crack" and I would get kidnapped. I'm pretty sure there's a significant nationalism (you're right, not racism) problem, which the capitalization of "Them" in the post I replied to felt evocative of.