Cristine Lagarde of the IMF says that Argentina's situation was more complicated than she thought.

There are 21 replies in this Thread which has previously been viewed 5,477 times. The latest Post () was by UK Man.

    UK Man .....

    It's simple.....they try to lower expectations to make every offer look good!!!


    Let's say someone borrowed Argentina 100 usd back in time.......

    Bought an Argentinian bond.

    Let's say the value today is 60 usd.....a bond owner would be happy to get that or more back.....

    But if the Argentinian government say they are heading for default, that bond is only maybe 40 usd worth.....

    So then the bondholders should be happy getting more than 40 usd......

    The bobos are playing poker......

    Thanks Jan...I'll take your word for it as you seem to know far more about it than me.


    I have far more important things to occupy my mind with at the mo. Like how to handle getting through a sweatbucket day like today without ending up in A&E. ^^