Case study on Sovereign Debt (Argentina)

[sgd]

I read about these vultures that prowl countries that have default, basically when the country defaulted the debt became worthless maybe pennies to the dollar and these vultures swooped in to buy them up. So in order for a country become solvent either you buy back the debt that has now become cheap or write off the debt which case investors take a hair cut so of course won't agree usually the case the country will just unilaterally do it without consent. So after the country becoming solvent again the holders of debt start lawsuit to asking for their money back the full value not the pennies they paid.

Its a long term game.