1. Argentina has just defaulted on its national debt repayments. Again. But the internet is just obsessed with Axel Kicillof, the country’s gorgeous economics minister.
Kicillof was made economy minister late last year by Argentina’s President Cristina Fernandez de Kirchner and tasked with renegotiating his country’s national debt, which is mainly owned by overseas bondholders.
Despite Kicillof’s efforts, Argentina was declared on Wednesday to be in default by debt rating agencies. The South American country says the US hedge funds who are refusing to accept a pay cut are “vulture funds”, preying on a struggling nation. The US hedge funds think Argentina is a financial basket case and want their money, even if that means the Argentinian economy will suffer. The hedge funds won.
2. Still, the financial world is quite glad to have a chance to see more Axel Kicillof press conferences.
8. This is him celebrating his AAA rating from Standard and Phwoar’s.
9. This is him worrying about causing mass inflation.
10. This is him thinking about fixed capital formation.
11. This is him preparing to talk about gilt-y pleasures.
12. This is him preparing to put himself on the market.
13. And this is him considering the impact of a fiscal stimulus.
- Some 150 migrants stranded in the French city of Calais stormed the Channel Tunnel on Saturday in an attempt to make it to British territory.
- One person was killed and two others were seriously injured Friday when an air medical transport helicopter crashed in Colorado.
- Popular sections of Reddit went dark this week as confusion and protests swept the site.