Countdown To Default!

[French jurist]

If someone has time, would be interesting to look at historical CDS charts for countries who actually defaulted during the past 10/20 years (Russia/1998, Peru, Argentina, etc.). Each situation is unique though (especially the actual one)

 

[Bajo_cero2]

Irregardless of the outcome of the negotiations and subsequent results , What has become apparent with this case is the inability of a nation to be able to declare bankruptcy. This avenue of restructuring debt via bankruptcy is available to individuals and companies , however , not to countries.

Perhaps the IMF , Paris Club , World Bank should find an alternative to default , and create a way for Nations to re negotiate debt.

Well, Argentina in fact did very well with its bankrupcy negociation.

The IMF solution instead is austerity and more debt to pay the debt. Later penalties.

 

[toongeorges]

Argentina will demonstrate la viveza criolla

http://es.wikipedia.org/wiki/Viveza_criolla

so I guess Argentina will default.

 

[notebook.fix]

I don't know what Argentina did that could be considered "well" ... the RUFO clause is a miserable example of the gross incompetence on the part of those who originally signed away our jurisdictional sovereignty. The extra 3.5 Billion dollar gift to the Club de PAris is another "well"...what bright negotiators on Argentina's side huh?. Yes we have that reputation for doing things really "well" ... not.

 

[Bajo_cero2]

I don't know what Argentina did that could be considered "well" ... the RUFO clause is a miserable example of the gross incompetence on the part of those who originally signed away our jurisdictional sovereignty. The extra 3.5 Billion dollar gift to the Club de PAris is another "well"...what bright negotiators on Argentina's side huh?. Yes we have that reputation for doing things really "well" ... not.

RUFO is a time limit to parí pasu. Regarding signing away our jurisdictional sovereignty, you have to thanks to Martínez de Hoz and Cavallo.

 

[dennisr]

If someone has time, would be interesting to look at historical CDS charts for countries who actually defaulted during the past 10/20 years (Russia/1998, Peru, Argentina, etc.). Each situation is unique though (especially the actual one)

CDS are a relatively a new phenomena created in ~1995 by by the new and improved wall street wiz kids. The Big Casino, fifty trillion $$$ of insurance on 30 trillion $$$ of assets. Who can figure?

 

[Don Alberto]

Irregardless of the outcome of the negotiations and subsequent results , What has become apparent with this case is the inability of a nation to be able to declare bankruptcy. This avenue of restructuring debt via bankruptcy is available to individuals and companies , however , not to countries.

What must companies do, when they go bankrupt?

Sell enough assets to cover debt to creditors. Do countries sell their assets to cover their debt?

The avenue of restructuring debt via bankruptcy is available countries too, as long as they follow the lead from 99.6% of all bond contracts since 2005, leaving no holdouts.

 

[Bajo_cero2]

Don Alberto, you Never answer if you got a donation of the vulpures founds or not. You are the Taliban of the vulpures.

 

[ajoknoblauch]

Don Alberto, you Never answer if you got a donation of the vulpures founds or not. You are the Taliban of the vulpures.

What does purity have to do with it?

 

[Bajo_cero2]

What does purity have to do with it?

Purity nothing, honesty and credibility does.