Gyroscopic Investing

Argentina is at risk of defaulting on $24bn (£15bn) of debt after hedge funds were awarded more than $1.3bn by a US court, a move which its economy minister called “legal colonialism”?.

“All we need now is for [Judge Thomas] Griesa to send us the Fifth Fleet,”? said Hernán Lorenzino.

However, New York District Court Judge Grisa was firm. “Argentina owes this and owes it now,”? he said. “After 10 years of litigation this is a just result.”?

A deadline for payment was set for December 15.