The difference is that we have a statute allowing companies and individuals to declare bankruptcy. Here all we have are the written terms of Argentina's debt ag

The difference is that we have a statute allowing companies and individuals to declare bankruptcy. Here all we have are the written terms of Argentina's debt agreement. All we can do is attempt to enforce them. Is it really a viable option to pretend the agreements do not exist? Perhaps we need an international process, analogous to bankruptcy, by which a nation can escape its debt burden. But I don't see how it is a federal judge's prerogative (or responsibility) to create one.