default

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A state worker protests in Plaza de Mayo square in Buenos Aires. Argentina’s president Mauricio Macri is facing unrest as workers protest at rocketing inflation and job cuts. Photograph:  Marcos Brindicci/Reuters

(...) years after its then record default in 2001. On paper, the $4.7 billion agreement announced in New York(...)

Protesters in an anti-austerity rally in Athens. Immense sacrifices were supposed to produce recovery but instead the destruction of purchasing power deepened the slump, creating depression-level suffering and a huge humanitarian crisis. Photograph: Milos Bicanski/ Getty Images

(...) solid bloc of implacable creditors who would rather see default and exit from the euro than let a(...)