Why Argentina Chose Default Over Paying Off Holdouts
Buenos Aires feared settling with Paul Singer and other holdouts would have left it open to claims of up to $120 billion; hopes persist of a negotiated solution.
Jonathan Kandell
July 31, 2014
Flags fly outside the central bank of Argentina in Buenos Aires, Argentina, on Wednesday, July 30, 2014. A top Argentine banker and former Economy Ministry official arrived in New York today to make a last-minute proposal aimed at averting the country's second default in 13 years. Photographer: Diego Levy/Bloomberg
Diego Levy/Bloomberg
