Argentina's fight with America's courts: Sympathy with the vultures

By Felix Salmon  |  April 10, 2015 | 11:11am
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Before I interviewed Argentine ambassador Cecilia Nahón, I dropped in on Arturo Porzecanski, Distinguished Economist in Residence at American University’s School of International Service, and a vocal opponent of Argentina’s tactics in this case. I asked him what he thought I should ask her.

I also asked Porzecanski how Argentina differs from other countries who have found themselves in default.

But could Argentina even afford to take Porzecanski’s advice and pay off its vulture creditors?

And does Argentina actually want to negotiate a resolution to this standoff?

Porzecanski also thinks that Judge Griesa, the jurist who caused the current chaos, is a hero for doing so.

He even has kind words for those demonized “vulture funds”.

As for Argentina itself, however, Porzecanski is happy to say that the country is a lawless “rogue debtor”.

Which will last until next year, when a new government arrives.

 
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