”Rule one of investing: never lend money to Argentina. When it comes to serial defaults, no other country comes close. It’s been defaulting almost since before the country was born in 1816, and there’s even a museum of foreign debt in Buenos Aires. An early dictator offered what he called the Malvinas to the British government in return for debt forgiveness, but the offer was turned down on the grounds that the British reckoned they already owned the Falklands.
President Cristina Fernández may be at the head of ’an amateurish government at its wit’s end’ but she must be puzzled at the failure of her policy of printing money to fund social spending; isn’t that what all the governments in the west are doing?” Neil Collins, Financial Times