In reaction to an adverse Supreme Court ruling against Argentina, President Cristina Fernández de Kirchner announced that Argentina would offer new bonds to its creditors governed under Argentine law. The proposed debt swap would involve the 92% of the country's creditors that agreed to restructure in the wake of the country's 2001 default. While the debt swap proposes an alternative for the South American country to avoid paying hold-outs, it fails to reverse the global implications on debt markets, debt restructuring and financial stability.
A term becomes a myth; the myth becomes a religion. That the German economy has long been too competitive is completely denied. We are all conditioned by the misguided use of terms and connections so a way of looking at things seems absurd. The German economy acts like a bulldozer rather than a locomotive.
The "Plural Economics Network" challenges breaking through the monoculture and intellectual onesidedness in economics... Instead of viewing our varied social problems from different perspectives, all the answers are derived from very similar models whose validity is rarely critically questioned... The "therapy" leads to even greater unemployment and poverty.