General Discussion

Lydia Leftcoast

(48,223 posts)

48. Yes, after much suffering under IMF rules, Argentina defaulted on its debt

Fri Apr 13, 2012, 11:21 AM

Apr 2012

and is finally getting out of its financial hole.

Individuals are allowed to declare bankruptcy if their financial burdens are intolerable. Their creditors have to take a bath.

Why can't countries be allowed the same right?

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Iceland Gets it right~ Why No media coverage? [View all] Pharaoh Apr 2012 OP

Real Democracy at work. hobbit709 Apr 2012 #1

Yep lovuian Apr 2012 #2

It worked. obxhead Apr 2012 #3

+1 leeroysphitz Apr 2012 #10

Love it. K & R eom TransitJohn Apr 2012 #4

Is there a way to sticky this??? Zalatix Apr 2012 #5

Because it doesn't edhopper Apr 2012 #6

American corpora-politics just isn't evolved like that. HughBeaumont Apr 2012 #7

Also we don't have the rapid change from a parliamentary system. They game between elections. freshwest Apr 2012 #37

the very last thing the corporate controlled news will ever talk about is... Javaman Apr 2012 #8

Your answer is in your title -- because they got it right. And because "right" means that the Nay Apr 2012 #9

I know :o) Pharaoh Apr 2012 #12

"to extricate itself from its rich-people problem" woo me with science Apr 2012 #40

Two reasons: hifiguy Apr 2012 #11

Because Americans might figure it out. mmonk Apr 2012 #13

You really want to know why? Or is this just ideological storytime? mathematic Apr 2012 #14

Your arguments are valid and ultimately point to the fact that democracy BridgeTheGap Apr 2012 #18

"Storytime" - interesting choice of words considering your post's basis in reality... ExPatLeftist Apr 2012 #23

Stockton??? A greater impact??? mojowork_n Apr 2012 #33

But, but, but, Typical NYC Lib Apr 2012 #15

Much as I admire them, they had it easy, being the first saras Apr 2012 #16

Too bad nobody reads the NY Times any more... TreasonousBastard Apr 2012 #17

Greece's actual problem is that traded away its currency sovereignty. girl gone mad Apr 2012 #32

Iceland never joined the Euro. Nye Bevan Apr 2012 #19

Exactly and.. Puzzledtraveller Apr 2012 #20

From an expat living in Iceland for 16 years (and an Icelandic citizen) this is mostly inaccurate. ExPatLeftist Apr 2012 #21

Awesome response, thank you Puzzledtraveller Apr 2012 #24

Thank you very much, Puzzledtraveller. :) n/t ExPatLeftist Apr 2012 #27

thank you so much for your perspective librechik Apr 2012 #28

Thank you :) ExPatLeftist Apr 2012 #29

More on "more cronyism and smoke and mirrors" mojowork_n Apr 2012 #34

Thanks for writing this, this is the very first thing I saw this morning and was Egalitarian Thug Apr 2012 #31

Thanks very much. This is ballyhooed a lot in teabagger and CT circles. freshwest Apr 2012 #38

Thanks for your posts on this topic. Scuba Apr 2012 #44

exactly! the banks everywhere have been ripping off the people for years--why should we pay librechik Apr 2012 #22

Please I beg you do not use Iceland as a role model in this case. ExPatLeftist Apr 2012 #26

This is one case of letting the market sort it out that actually does work. Gregorian Apr 2012 #25

the threat of a good example HiPointDem Apr 2012 #30

Over the last decade or so, many countries in Latin America.... bvar22 Apr 2012 #35

Yes, after much suffering under IMF rules, Argentina defaulted on its debt Lydia Leftcoast Apr 2012 #48

Humbly submit that Iceland has a Population of 320,000 SadPanda Apr 2012 #36

Not many people would ever travel to Iceland? I beg to differ! Lydia Leftcoast Apr 2012 #47

kicked. shcrane71 Apr 2012 #39

DU Rec. nt woo me with science Apr 2012 #41

Amazing! nt Sarah Ibarruri Apr 2012 #42

PLEASE READ POST #21 BEFORE RECCING ExPatLeftist Apr 2012 #43

We have a One Percent Media! Mosaic Apr 2012 #45

I'm arguing with someone that this is a socialist answer Lawlbringer Apr 2012 #46

Why do you think it is socialist? Quantess Apr 2012 #49

Well... Lawlbringer Apr 2012 #52

Letting you know. westerebus May 2012 #53

Excellent. Lawlbringer May 2012 #54

You're welcome. n/t westerebus May 2012 #55

Because they did what every other country should have done, start arresting those responsible sabrina 1 Apr 2012 #50

I wish they had started arresting them.... n/t ExPatLeftist Apr 2012 #51