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One of those things is not like the others: the Argentinian financial crisis was about the Argentine government defaulting on its sovereign debt, which did not
by chalst 14y ago
One of those things is not like the others: the Argentinian financial crisis was about the Argentine government defaulting on its sovereign debt, which did not happen in the other cases.
The Argentine crisis was about the government (i) borrowing excessively, (ii) having its debts in a foreign currency (dollars), and (iii) maintaining a fixed exchange rate. Rather like the Greek situation.
Sweden was in a similar situation to Iceland (though not as extreme), but chose to guarantee bank creditors - so it behaved in the opposite manner to Iceland, making the same choice that Ireland did, though it was much smarter in how it went about recapitalising banks than Ireland was.