The Joker, Lex Luthor & the Argentine Debt Saga

The Joker, Lex Luthor & the Argentine Debt Saga

  Sometime ago the Economist described the stand-off between the then government of Argentina and some hold-out creditors as “watching a movie in which The Joker battles Lex Luthor,” the famous supervillains of comic books, concluding that “neither side arouses much sympathy.” Cristina Fernández de Kirchner (The Joker?) has paid politically, with her candidates losing […]

The Uncertain Prospects of Hasty and Premature Criticisms of Argentina’s Economic Policies

The Uncertain Prospects of Hasty and Premature Criticisms of Argentina’s Economic Policies

photo: Taylor White Nobel Prize economist Joseph Stiglitz and coauthor Martin Guzman (from now SG) had just written a piece on Argentina, entitled “Argentina’s Uncertain Prospects” focusing on the early economic policies and potential scenarios for the government of the newly elected President Mauricio Macri. In my opinion, the article paints an excessively gloomy picture of […]

Is the Pope Anti-Capitalist, or Even … Communist?

Is the Pope Anti-Capitalist, or Even … Communist?

Pope Francis recent Encyclical “Laudato Si” has given new emphasis to the debate over whether Pope Francis is some sort of crypto-Socialist, or even Communist, with varied references to being a “populist,”  a “statist,” and the like.  Although his successful visit to the U.S. last week seems to have abated somewhat this debate, it will […]

Argentina: The Myth of a Century of Decline

On February 15 The Economist printed an interesting article about Argentina: “The tragedy of Argentina. A century of decline” with the subtitle, “One hundred years ago Argentina was the future. What went wrong?” As usual in that magazine, it is a nicely written article. But it is not, in my view, an accurate interpretation of […]

Argentina and Elliot, Again

On October 7 the Financial Times published an article by Jay Newman, a senior member of Elliot Management Corporation, the vulture fund that has a long-standing dispute with Argentina, criticizing this country for what he argued was its unwillingness to negotiate with them. A couple of days later the FT published a letter from Danny […]

Argentina and the Presentation to the Second Circuit US Court of Appeals

Argentina’s debt crisis of 2001/2002 was a profound and painful one. The 2005 restructuring proposal reflected the difficulties suffered by the country (see my blog http://www.economonitor.com/blog/2008/09/some-reflections-on-argentinas-debt-restructuring/). The acceptance reached about 74%, therefore there was still a substantial percentage of holdouts. Sometime in 2006 or 2007, and for reasons that still escape me, people from an […]

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