State of Siege Declared for Argentina

[faded glory]

Originally posted by Saras


That is all fine, but that was not the point of my question - what does having an "infrastructure" have to do with being able to default and not be hurt in the future by it?

Ugh? Default to who? The Argentinian taxpayers are the ones who lost there money. That shook up over sea's investors who then pulled out.

The Debt is almost all domestic. They shouldnt default. They should cut federal expenditure, and a way to end the recession. Pay back all the money you stole from argentinian people at a later date.

[Saras]

Originally posted by faded glory


Ugh? Default to who? The Argentinian taxpayers are the ones who lost there money. That shook up over sea's investors who then pulled out.

The Debt is almost all domestic. They shouldnt default. They should cut federal expenditure, and a way to end the recession. Pay back all the money you stole from argentinian people at a later date.

Last I knew they had ~$90bn of foreign debt. Did that amount somehow change hands over a brief period of time?

[Dr. Nick]

faded glory, thanks. I hope I don't have to flee the country when I graduate from medical school either...

BTW, when are you going to continue with DotW?!

[axi]

A Brief Argentina Update

The temporary president has changed one more time in Argentina. The new president declares that there is not one peso left to pay wages and pensions and is trying to get a new loan from the IMF. The peso will separate it's rate from the dollar and is about to lose 30-50% of it's value.

One really sad story is that of the armed roberry in a supermarket, in one Argentinian city, with a hostage situation. The bandits gained the favor of the public outside by handing out money and food to the people. However the police raided the palce and killed two of them in the night. This story made it to the Greek media (while almost no other news of Argentina were broadcasted, for obvious reasons) and is indicative of the dire situation the country is in.

If you ask me, I favor the bandits in this one...

There was a prison riot with 30 dead in Brasil too. Any news about that?

[Provost Harrison]

A country full of food and the capability to make so much of it, yet people can't afford to buy. Ah, the functionality of capitalism

[Seeker]

"A country full of food and the capability to make so much of it, yet people can't afford to buy."

Welcome to South America...