In a move that could have major repercussions for eurozone economies, a US appeals court dealt Argentina a blow on August 23 in the legal battle over the country's massive 2001 default by upholding a ruling ordering Buenos Aires to pay over €1bn to bondholders.

The decision by the 2nd US Circuit Court of Appeals in Manhattan stayed the order to pay so that Argentina could file an expected appeal to the US Supreme Court.

The decision "affirms a proposition essential to the integrity of the ...


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