NEW YORK – Like individuals, corporations, and other private firms that rely on bankruptcy procedures to reduce an excessive debt burden, countries sometimes need orderly debt restructuring or reduction. But the ongoing legal saga of Argentina’s fight with holdout creditors shows that the international system for orderly sovereign-debt restructuring may be broken.
纽约—和依赖破产程序降低过高债务负担个人、公司和其他私人企业一样，国家有时也需要有序债务重组或减记。但阿根廷与债权人的旷日持久的法律扯皮表明，有序主权债务重组的国际体系可能已经崩溃。