Since the Argentine crisis, most new bonds have been issued with collective action clauses (CACs), under which bondholders are obliged to accept restructuring if a specified share (usually around 70%) agree to it. As time passes, there are fewer and fewer outstanding bonds that do not contain CACs.
在阿根廷危机之后，大多数新债务都在集体行动条款下发行，只要特定比例（一般约70%）的持有者同意债务重整，则所有持有者都要同意。随着时间流逝，不包含集体行动条款的未偿付债券将越来越少。但该条款并不能解决所有问题，因为每一份债券都包含一个投票权，如果要反对重整，只要收购足够比例的分额就行了。