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Argentina vs USA August 27, 2014

Posted by hslu in Economics, Global Affair.
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A US judge told Argentina: you have to do this, this and that because so and so sued you for not paying back the loan they lended you decade ago.

Argentina to judge: So and so didn’t settle with me but others have. We have been paying interests to the others on time for the past 13 years.

US Judge: You have to stop paying those people now. Settle with so and so first.

Argentina: If we stopped the interest payments we’ll be in default.

US Judge: You heard my ruling. Settle with so and so.

Argentina: So and so insisted on the full amount of the original loan. If we settle with them, the others will demand the full amount too.

US Judge: That’s your problem.

Argentina: We can’t take the deal from so and so. We have the interest payments deposited already.

US Judge: You can’t make the payments.

Argentina: We’ll have no choice but default because of your stupid ruling.

Stock markets: yawn!

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