Argentina’s sovereign debt default: a critical view

George Georgescu

MPRA Paper from University Library of Munich, Germany

Abstract: Following the financial crisis effects, the issue of debt sustainability became of global importance, even for international security reasons. In the EU, despite post-crisis fiscal austerity measures aimed at rebalancing the public finances, the debt-to-GDP ratio continued to deteriorate. At international level, few countries have legislative mechanisms able to contain the public debt increase. The case of Argentina, pushed into default because of a single uncommon US court decision raised other questions related to the status of sovereign debt. It seems that only by agreeing a multilateral legal framework under UN umbrella the sovereign debt restructuring issues could be addressed.

Keywords: Argentina; sovereign debt; global crisis; sovereign insolvency; debt restructuring; rating agencies (search for similar items in EconPapers)
JEL-codes: E44 F34 F55 G01 H63 (search for similar items in EconPapers)
Date: 2015-03
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/62800/1/MPRA_paper_62800.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:62800

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().