Argentina's Lessons for Greece?
Is default such a bad option? We look at another country, Argentina, which went through its own economic crisis ending in default. What are the lessons for Greece?
The Greek government is facing a critical test. Wracked with debt, can it keep its economy afloat whilst staying within the European currency zone? And if it does fail to reach a deal with creditors over the coming days, what would be the consequences of a default? In this week's programme, we look at Argentina, which went through its own economic crisis over a decade ago, eventually defaulting on its debts. What happened next for Argentina? Did it recover or did it become a financial pariah - shunned by bankers and lending institutions? Did it achieve sustained long term growth or lurch from crisis to crisis? Join Owen Bennett Jones and his panel of expert guests to discuss what lessons there are for Greece in the Argentinian experience.
(Photo: Workers of an Argentine shoe factory light a bonfire outside the Foreign Ministry, as they protest against the importation of Brazils shoes. The poster reads One Brazilian shoe is more misery for Argentina. Credit: AP)