Argentina has to assure the entire financial community that default is not an option

Argentina Has The Money To Pay It's Debts, 

But Here's Why It Would Rather Drop Dead First

Linette Lopez

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.

"This was a political decision haded leaders made," said bankruptcy expert William A. Brandt, CEO of Development Specialists Inc., a firm specializing in turnarounds. "Argentina is an incredibly sophisticated economy and brought this problem on itself by doing the unthinkable and defaulting on its debt."

In case you've missed this epic fight, for the last ten years, Argentina has refused to pay Elliott Management's Paul Singer and other exchange bondholders of their sovereign debt who did not participate in restructurings and take a haircut.

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