By CLAUDIA TORRENSAssociated Press NEW YORK (AP) - The collapse of talks with U.S. creditors sent Argentina into its second debt default in 13 years and raised questions about what comes next for financial markets and the South American nation's staggering economy. A midnight Wednesday deadline to reach a deal with holdout bondholders came and went with Argentine Economy Minister Axel Kicillof holding firm to his government's position that it could not accept a Read more [...]

31 July 2014 Last updated at 14:38 Argentines have been protesting against the demands made by what they call "vulture funds" Argentina has blamed the US for its debt default, calling the mediator in failed talks "incompetent". Cabinet Chief Jorge Capitanich said his country was considering opening proceedings at international tribunals in The Hague after it was declared to be in technical default. Read more [...]

The International Swaps Derivatives Association said it will rule on whether credit-default swaps on Argentina have been triggered by a failure-to-pay credit event. The decision would lead to payouts on all contracts, according to ISDA’s rules. A total of 2,652 contracts insuring a net $1 billion of Argentina’s debt were outstanding as of July 25, according to the Depository Trust Clearing Corp. Swiss bank UBS AG asked for the ruling after the government missed a deadline yesterday to pay Read more [...]