empowering
Legendary
*
Offline Offline

Activity: 952
Merit: 1044



View Profile Personal Message (Offline)

Ignore
July 31, 2014, 12:39:46 AM
Last edit: July 31, 2014, 01:05:10 AM by empowering

Argentina defaults!

I thought it would be a close one....




Sounds
as though they may pull out of the nose dive at the last minute, if so... some damage done but nothing to serious just yet... lets see what they pull out of the bag in the next few days... they had better sort something out asap though.. there are cross-default clauses that could trip them up.

CDS holders are probably touching themselves in anticipation right now...

http://www.bloomberg.com/news/2014-07-29/how-argentina-s-default-may-trigger-29-billion-in-claims.html