Economy / Foreign relations / History of Italy

Italy and Argentina

In the first part of the XX century, Argentina was a preferred destination for the many waves of Italian emigrants. The Southern American country was then perceived as some sort of El Dorado, with plenty of money and food.

The 2001 default involved thousands of Italian citizens who lost the money they had invested on Argentine State bonds, called in Italy “tango bond”.

For Italy, the twin defaults of Argentine are a stark remainder then even a very prosperous country can go bankruptcy if it is grossly mismanaged.

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