Sovereigns, Vultures and Ignoble Cowardice

Atrocious jurisprudence has plunged Argentina into an unwanted default and upended the world of sovereign debt.

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1 Response to Sovereigns, Vultures and Ignoble Cowardice

  1. John Le Sage says:

    Felix,
    I really enjoyed your lecture at the LSE last week. Your statement that there is no way of enforcing sovereign default is interesting. Do you think that the Venezuelans are likely to default in the face of the falling oil price and the 25 or so expropriation cases which they face in the international arbitration courts. I understand that the Courts can seize external assets but the Venezuelans may not have many !
    Thanks and Best Wishes, John Le Sage.

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