&quot;The constant inflation made it only possible to issue bonds in a foreign currency.&quot;<p>Why is that?<p>I think the problem in this discussions is that every side come from a different conception about what is and where money comes from.<p>A sovereign govern with a floating currency don&#x27;t need financing from private sources in its own money. That&#x27;s a simple fact about how money is really created. If we don&#x27;t agree in this first, all posterior discussion is pointless.