Until the euro crisis, it was generally believed that problems servicing sovereign debt occurred only in emerging markets and the least developed countries. The US Supreme Court’s decision on Argentina adds a new wrinkle, and may well further increase the risk attached to holding sovereign debt – and this to the cost of issuing it.
在欧元危机之前，人们相信与主权债务有关的问题只会出现在新兴市场国家或者最不发达国家身上。美国最高法院的阿根廷案决议却增添了一道伤痕，并将进一步增加与持有主权债务相关的风险——以及发行这类债券的成本。