Argentina is showing us the playbook in real-time
Saturday, February 8, 2014, 3:36 PM
Argentina is a country re-entering crisis territory it knows too well. The country has defaulted on its sovereign debt three times in the past 32 years, and looks poised to do so again soon.
Its currency, the peso, devalued by more than 20% in January alone. Inflation is currently running at 25%. Argentina's budget deficit is exploding and, based on credit default swap rates, the market is placing an 85% chance of a sovereign default within the next five years.
Want to know what it's like living through a currency collapse? Argentina is providing us with a real-time window.
So, we've invited Fernando "FerFAL" Aquirre back onto the program to provide commentary on the events on the ground there. What is life like right now for the average Argentinian? » Read more