{"id":7536,"date":"2024-09-09T14:19:18","date_gmt":"2024-09-09T14:19:18","guid":{"rendered":"https:\/\/newmoneyreview.com\/?p=7536"},"modified":"2025-01-21T17:24:39","modified_gmt":"2025-01-21T17:24:39","slug":"default-why-sovereign-debt-matters","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2024\/09\/09\/default-why-sovereign-debt-matters\/","title":{"rendered":"Default: why sovereign debt matters"},"content":{"rendered":"<p>When, why and how do countries go bust? That\u2019s the topic of <a href=\"https:\/\/blubrry.com\/newmoneyreview\/135984684\/default-why-sovereign-debt-matters\/\">the latest <em>New Money Review podcast<\/em><\/a>, where I\u2019m joined by Greg Makoff, a former physicist, banker, government advisor and now senior fellow at the Harvard Kennedy School.<\/p>\n<p>Makoff is the author of <a href=\"https:\/\/www.defaultthebook.com\/\">a recent book<\/a> on what has been called \u201cthe most contentious default in history\u201d\u2014Argentina\u2019s 2001-2016 debt restructuring.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-7540\" src=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2024\/09\/Greg_Makoff_-_Media.2e16d0ba.fill-1600x900-3007631084.jpg\" alt=\"\" width=\"405\" height=\"228\" srcset=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2024\/09\/Greg_Makoff_-_Media.2e16d0ba.fill-1600x900-3007631084.jpg 1600w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2024\/09\/Greg_Makoff_-_Media.2e16d0ba.fill-1600x900-3007631084-300x169.jpg 300w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2024\/09\/Greg_Makoff_-_Media.2e16d0ba.fill-1600x900-3007631084-1024x576.jpg 1024w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2024\/09\/Greg_Makoff_-_Media.2e16d0ba.fill-1600x900-3007631084-768x432.jpg 768w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2024\/09\/Greg_Makoff_-_Media.2e16d0ba.fill-1600x900-3007631084-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 405px) 100vw, 405px\" \/><\/p>\n<p><em>Greg Makoff<\/em><\/p>\n<p>In the podcast, we discuss:<\/p>\n<ul>\n<li>When, why and how countries go bust<\/li>\n<li>What distinguishes a sovereign insolvency from a corporate or personal bankruptcy<\/li>\n<li>Who has jurisdiction over sovereign defaults?<\/li>\n<li>What brings governments and creditors to the table?<\/li>\n<li>Sovereign immunity and the negotiating power between debtor and creditor<\/li>\n<li>What went wrong in Argentina\u2019s debt restructuring?<\/li>\n<li>How Elliott Capital Management made billions on defaulted Argentinian debt<\/li>\n<li>The broader public policy lessons of Argentina\u2019s debt restructuring<\/li>\n<li>China, the IMF and the geopolitics of sovereign debt<\/li>\n<li>Default risk in domestic and foreign currency bonds<\/li>\n<li>Why sovereign debt problems will never go away<\/li>\n<\/ul>\n<p><a href=\"https:\/\/blubrry.com\/newmoneyreview\/135984684\/default-why-sovereign-debt-matters\/\">Listen to the podcast<\/a><\/p>\n<p><em>The New Money Review podcast brings you the best minds from the world of money. <\/em><\/p>\n<p><em>From economics to payments, financial markets, technology, law, digital assets, crime and fraud, you&#8217;ll find an episode that interests you.\u00a0<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When, why and how do countries go bust? That\u2019s the topic of the latest New Money Review podcast, where I\u2019m joined by Greg Makoff, a former physicist, banker, government advisor [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-7536","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Default: why sovereign debt matters - New Money Review<\/title>\n<meta name=\"description\" content=\"Why, when and how do countries go bust? 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