, Columnist
What Will Argentina Do With Its Vultures?
The trick to any negotiation is to act crazy to intimidate the other side. Well, the trick to some negotiations. Probably not that many.
On Monday, Argentina lost its appeal against Elliott Management in the U.S. Supreme Court. That means that, leaving aside this footnote,1 Argentina needs to either negotiate a settlement with Elliott over billions of dollars in unpaid debt in the next two weeks, or default on its current debts on June 30. This seems bad for Argentina, and it is. But in a weird way, it almost puts Argentina in a stronger negotiating position than Elliott.
(Another self-conscious footnote: If you have no idea what I'm talking about, there's some basic background down here.2)