Argentina has just defaulted on its external sovereign debt for the second time in the 21st century (think back 11 years ago).
- It's NOT their first sovereign default. Argentina has defaulted seven times in its 200 year history.
As the Economist demonstrates, nations can and DO default. What cannot be paid back, will not be.
- Interesting list this...
Still "think" sovereign bonds" ( a nation's debt) are risk-free and/or a good idea?
- Think again, please. This includes those "backed by the full faith and credit" US Treasury bonds (sovereign debt).
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