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When South AmericanLeaders Default On Their Debts …
Americans Pay the Price.
The default dominoes are falling again in South America — and it’s costingAmericans billions.
A recent report by former U.S. Undersecretary of Commerce andATFA Co-Chairman Robert Shapiro found that Argentine PresidentNéstor Kirchner’s refusal to honor his country’s debts has cost Americanbusinesses and taxpayers more than $10 billion.
Even though Argentina can afford to repay its foreign debts, President Kirchnerchanged the rules and repudiated more than $20 billion in delinquent debt.
That’s bad enough.
Meanwhile, President Kirchner sent a team of default experts to adviseEcuador’s President Rafael Correa on how he can default on his country’sdebts — “Argentine-style.” Who’s left holding the bill? American taxpayersand investors.
Congress: Let Ecuador Know That It Can’t Get AwayWith Argentine-Style Economics.
Stop the South American Swindle.www.atfa.org
ARGENTINA
ECUADOR
