More on Argentina external debt

Special report from The Economist.

May 2005.

“Argentina defaulted so heavily because it defaulted so late. Its descent into default, devaluation and destitution is vividly recounted in a new book by Paul Blustein (seearticle). Far from being too ready to flout its obligations, he concludes, Argentina was too reluctant to do so. Domingo Cavallo, a messianic politician who returned as finance minister in 2001, would not countenance default. “Who could conceive such a destructive idea for a country, and be bold enough to propose it?” he wrote in the Financial Times.”

(excerpt)

http://www.economist.com/node/3715779

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