sovereign decision

Eduardo Levy Yeyati

Argentina's Debt Conundrum

Argentina's Debt Conundrum

BUENOS AIRES - Argentina is in a quandary. Prior to its 2005 sovereign-debt exchange, its legislature enacted a "lock law," which barred the way to any future offers to holders of bonds on which Argentina defaulted in 2002. While the lock law helped to boost the participation rate in the 2005 exchange, holdout creditors remained, and have pursued litigation to force repayment.

Amerykańscy senatorowie wzywają Obamę do wzmocnienia bezpieczeństwa Polski

- Wiemy z historii, co stało się, gdy zachodni liderzy opuścili Polskę. Nasza ponadpartyjna inicjatywa wzywa prezydenta, by pokazał, iż USA stają ramię w ramię z Polską w obliczu zagrożenia rosyjską agresją - powiedział republikański senator Mark Kirk po wysłaniu listu do prezydenta Baracka Obama. Podpisało go w sumie 17 senatorów z Partii Republikańskiej i Demokratycznej.

Lech Kaczyński Defending Germans Against Lisbon Treaty

It is no longer only on a successful referendum in Ireland but also on a favourable ruling of the German constitutional court that president Lech Kaczyński now makes conditional putting his signature under the Lisbon Treaty.

Europe's Non-Deal of the Century

extremely critical of how "negative politics" sealed the proposed merger's fate.With the EU in the throes of the seemingly endless eurozone sovereign-debt crisis and facing a looming debate over its future decision-making architecture, the collapse of the EADS-BAE merger will be no more than a

More Leadership for More Europe

turbulence. Optimism soared and prudence fled - reflected in premature eurozone membership for countries like Greece, as well as in the gap between the pace of EU enlargement and that of institutional integration.In other words, Europe's decision-makers ultimately overlooked the basic requirements of a

Mr President, Sign the Treaty!

Mr President, Sign the Treaty!

your ministers, but directly from you,' appealed the PO deputy, according to whom the president has been delaying the ratification 'ad infinitum.' The draft resolution says, among other things: 'Acknowledging that the endorsement of the treaty is a sovereign decision of each member state, the Sejm

One Flew Over the Resource Curse

heavily invested, they have the most experience using cheap debt to create value. But, with commodity prices beginning to drop, even the most bullish companies are reassessing ambitious investment plans - a trend reflected in the Brazilian mining giant Vale's recent decision to put its investment in

A Europe of Solidarity, Not Only Discipline

. The authorities are taking steps to correct their mistakes, especially with the decision to form a banking unionand the outright monetary transactions program, which would allow unlimited intervention by the European Central Bank in the sovereign-bond market. Financial markets have been reassured that

Sechin and the Commanding Heights?

reached $85 billion (4.5% of GDP) in 2011. The outflow this year will likely be similar.This capital flight is striking. Oil prices are high. Unlike the US and Europe, Russia has zero sovereign debt, a balanced budget, and 4% GDP growth. Inward foreign direct investment is growing. And yet the net capital