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Farewell to the vultures? Argentine debt restructuring and bargaining theory

Miller, Marcus, Ghosal, Sayantan, (2016), «Farewell to the vultures? Argentine debt restructuring and bargaining theory», Voxeu, 8 Ιανουαρίου.

Shylock’s insistence in ‘The Merchant of Venice’ that his “pound of flesh” be paid as per the contract, regardless of the extreme and grotesque cost to the debtor, is an apt parallel with vulture funds holding out on Argentinian debt pay-outs. This column assesses the Argentinian debt situation and develops an accord that would create a compromise between the extremes on both sides.

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