What Happens when Countries Go Bankrupt?

Very interesting article on bankrupt countries The Ghost of Argentina: What Happens when Countries Go Bankrupt? – SPIEGEL ONLINE – News – International

The article contains well researched analysis of the situation in Argentina, Pakistan, Hungary, Ukraine and others. Of course a big worry is that the smaller countries might drag some larger countries down with them.

It’s fairly depressing reading so I recommend listening to Glenn Gould play Bach as an antidote!