Argentina Finishes Paris Club Negotiations, Swings At Elliott

As Argentina celebrates a “victory” at the Paris Club, its time to sober up because negotiations with Elliott might not be easy.

Golf claps as Argentina completes negotiations with sympathetic French

Up until 2 AM negotiating, Argentine President Cristina Fernandez de Kirchner received congratulatory golf claps as her country agreed to pay over $9.7 billion in claims over old debt.  In 2001 the country defaulted on bondholders, sticking them with a $95 billion check as they shot out the restaurant door without paying.

“It’s clearly positive that Argentina finally resolved this issue” with the Paris Club, Jorge Mariscal, chief investment officer...