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Vulture fund NML Capital's profit quest could push Argentina to default

LIMA — Argentina’s ongoing fight with a “vulture fund” looking to profit from the South American nation’s economic crisis of a decade ago may be about to trigger more global financial turbulence after a surprise US court ruling.

Why Argentina refuses to pay hedge funds

Here's what you have to understand: Argentina isn't refusing to pay angry hedge fund managers like Elliott Capital's Paul Singer because they don't have the money. They do. The country's intransigence comes from a force far more powerful than that — the fabric of their modern political ideology.
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