The protest went to the heart of the current debate in Europe over whether to halt debt-reducing austerity policies and adopt more growth measures.
Under the fund's proposal, Buenos Aires could have declared a time out, halting debt payments or other outflows while it sought to rebuild financial credibility.
Its politicians failed to halt its debt spiral because its citizens (and particularly its elite) seemed to be doing well out of the boom.
The companies' two top executives said in an interview yesterday that the improvement was largely a result of the "fundamental health of our store divisions" and a halt on debt interest payments.
Credit woes extended to Dubai, where investors are still assessing potential losses after Dubai World, a state-controlled investment company, announced two weeks ago that one of its units wanted a halt in debt payments.
Whatever the reason, Gov. Cuomo's proposals on making college affordable and halting student debt will be watched closely.
Though private equity has found resounding success in acquiring companies over the last two years, fears of rising interest rates may bring the buyout boom to a halt, as the debt fueling the acquisition spree becomes too expensive.
The Dubai government and the holding company that asked for a halt in its debt payments are heading for a tough battle as creditors are prepared to fight to recover their money.
Mitt Romney becomes a real boy, is my guess.Last November, Nate Silver of the New York Times laid out the following scenario, using his model for forecasting election outcomes:Mitt Romney is the Republican nominee, and economic growth, rather than continuing along sluggishly, comes to a halt (perhaps the debt dominoes have fallen in Europe).
On Monday, House Democratic leader Nancy Pelosi sent a letter to Speaker Paul D. Ryan and Senate Majority Leader Mitch McConnell saying that Congress should pass legislation to halt the Pentagon debt recovery "as soon as we gavel back into session" after the Nov. 8 election.
