Not only has Argentina repudiated the $100 billion in foreign debt on which it defaulted a decade ago; it has also shrugged off criticism of its expropriation in April of the Spanish oil company Repsol. Argentina has offered to compensate the company at “fair” market value, to be determined at some future date – presumably when the floor has dropped out of Repsol’s share price, which initially plunged nearly 60% from its previous high, and is still down 40%.