The elephant in the room is that a spoliation finding could morph into a dismissal or default judgment by a judge who becomes frustrated and suspicious.

FORBES: Written by Robert D. Brownstone

The risk of devaluation was gone and the chance of default seemed tiny, to judge from the markets' judgment that bonds issued by thrifty states were barely worth any more than those of profligate ones.

ECONOMIST: Charlemagne: The name's Bond. Eurobond | The

Sources close to the matter also raised doubst that a judgment against Argentina, which could push the country into technical default, would render debt restructurings useless by incentivizing creditors to hold out.

FORBES: Billionaire's Hedge Fund Rebuffs NY Fed In Argentina Case: No Risk To $2.6T Payments System