Thursday, July 31, 2014

Default Lies Within

Argentina's semi-hot former soap opera star president is not happy:
Argentine stocks plummeted Thursday as the repercussions of the default began to set in, and were down 6.45 percent in afternoon trade.

Argentine President Cristina Kirchner's cabinet chief, Jorge Capitanich, blamed the American government for the default, brought on by a US court ruling that blocked Buenos Aires from servicing its restructured debt without also paying the hedge funds in full.

"If there's a judge who's an agent of these speculative funds, if the mediator is their agent, what is this justice you're talking about? There's a responsibility of the state here, of the United States, to create the conditions for the unconditional respect of other countries' sovereignty," he told a press conference in Buenos Aires.
But whose fault is it?

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