Euro Crisis

Argentina Becomes a Shakier Bet Than Greece

Athens sends its regards


Argentina's bond yields are eclipsing those of Greece for the first time since the European nation's debt restructuring in March, as speculation increases the South American country will opt to default rather than settle with its so-called holdout creditors.

Yields on Argentina's euro-denominated bonds due in 2033 surged 4.15 percentage points to a five-month high of 16.93 percent after a U.S. court ruled Oct. 26 the country must pay holders of debt from its record $95 billion default in 2001 when it makes payments on restructured notes. The notes yield 0.91 percentage point more than similar-maturity bonds sold by Greece after it restructured more than $200 billion of debt.