Friday 9 December 2016

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.

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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.

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