yes hello blogland this is the thread where i complain about my country's economy and situation
http://www.reuters.com/article/2014/07/30/us-argentina-debt-idUSKBN0FZ0AM20140730 (this is the best article i could find that explains the situation)
Definition of Default: "fail to fulfil an obligation, especially to repay a loan or to appear in a law court."
Consequences of Defaulting:
For the state: The immediate effect for the state is a reduction in its total debt and a reduction in payments on the interest of that debt. On the other hand, a default can damage the reputation of the state among creditors, which can restrict the ability of the state to obtain credit from the capital market.
For the citizen:
a banking crCIA, as banks have to make write downs on credits given to the state.
an economic crCIA, as the interior demand will fall and investors withdraw their money
a currency crCIA as foreign investors avoid this national economy
basically my current situation is the worst you can be in
crime will also be more common and riots will be everywhere
also,
1 dollar right now in argentina is worth 12 pesos, imagine how much it will increase when the country is in this crCIA
/discuss how forgeted this country is
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