I read The Ascent of Money, by Niall Ferguson over the summer and I am reminded of a passage discussing Argentina: "So successful did Argentina's default prove

I read The Ascent of Money, by Niall Ferguson over the summer and I am reminded of a passage discussing Argentina: "So successful did Argentina's default prove (economic growth has since surged while bond spreads are back in the 300-500 basis point range) that many economists were left to ponder why any sovereign debtor ever honours its commitments to foreign bondholders" http://books.google.com/books?id=JA_IYJ0P4ZkC&lpg=PA4&dq=niall%20ferguson%20safest%20default&pg=PA115#v=onepage&q=&f=false http://books.google.com/books?id=JA_IYJ0P4ZkC&lpg=PA4&#3...