Argentine is going to pay 2 times for one and the same thing. In 2001 it went bankrupt, and as a punishment it was cut from markets and interest rates jumped up. Now again it is declared bankrupt, will be cut from markets and interests will go up. But what is funny is that today there is no bankrupt... :) The problem is the same case from 2001, restarted after a court decision by US court. After 2001 Argentine paid its price with going default and restructuring its debts. Now it will have for second time to restructure the same debts and again pay the social price... :)

Theoretically this can repeat forever and every 10 years Argentine to be declared bankrupt due to 2001 case :)

Dobri B.
Aug-02-2014