Comments on: Is Puerto Rico following Argentina’s path? http://blogs.reuters.com/muniland/2013/12/27/is-puerto-rico-following-argentinas-path/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: bdbd10 http://blogs.reuters.com/muniland/2013/12/27/is-puerto-rico-following-argentinas-path/comment-page-1/#comment-2375 Mon, 30 Dec 2013 16:29:09 +0000 http://blogs.reuters.com/muniland/?p=13363#comment-2375 Argentina is a convenient example for your agenda. Did you consider Ireland or Portugal as other examples (Irish pension fund to be tapped for €12.5bn, http://www.ft.com/intl/cms/s/0/adb04460- fb3e-11df-b576-00144feab49a.html#axzz2oy BmS57J) or does the recovery / turnaround there not fit with your pre-determined conclusion of default?

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By: CraigL http://blogs.reuters.com/muniland/2013/12/27/is-puerto-rico-following-argentinas-path/comment-page-1/#comment-2373 Sat, 28 Dec 2013 01:05:41 +0000 http://blogs.reuters.com/muniland/?p=13363#comment-2373 Last time I checked, the U.S. gov’t borrowed over $4T from the SoSec fund, on top of $12.8T it borrowed externally, and counting. So, how is this PR borrowing different? Answer: relative scale — $110M over $70B is negligible. PR said it would return to the bond markets in early 2014 (see goo.gl/zChWAM).

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By: BBrite http://blogs.reuters.com/muniland/2013/12/27/is-puerto-rico-following-argentinas-path/comment-page-1/#comment-2372 Fri, 27 Dec 2013 23:00:58 +0000 http://blogs.reuters.com/muniland/?p=13363#comment-2372 BB:

Argentina is for economists with a sense of humor. It’s for anyone who likes a good drink and a good laugh. And for anyone who wants a peek at P.R.?

The Argentines pulled off the biggest default on sovereign debt in history. In 2001, they defaulted on $132 billion in loans. Later, they negotiated a settlement that left lenders with their worst haircut ever.

But at least the lenders must have had fun. They came down to Buenos Aires on rich expense accounts. They stayed at the Four Seasons. They ate steaks that were thicker than glaciers…and washed them down with a whole rio of malbec. They probably went to a few tango shows too. The visit may have cost them billions…but heck…

…it wasn’t their money.

So what kind of crisis will P.R. have? No one knows.

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