Lessons from Argentina on the dangers of populism
Published 17/03/2016 | 02:30
WE are not going to have any clichés about crying, but we are going to mention Argentina. As you may have seen, the country was forced to cut a deal with a group of its creditors after years of litigation over (cliché alert) the burning of their bonds.
This is new. It used to be said it was a wonder anyone lent to a government, because if it didn't repay, there was nothing much the lenders could do.
They couldn't make a claim on the assets of a sovereign state.