Argentina's debt crisis

June 24, 2014

(AP Photo/Raul Ferrari, Telam)
Argentina's President Cristina Fernandez waves as she arrives for a ceremony marking National Flag Day in Rosario, Argentina, Friday, June 20, 2014.

A U.S. judge says Argentina must repay hedge funds that own bonds the country had defaulted on in 2001. Argentina has asked for a stay in the ruling. Stephen Nelson, a professor of political science at Northwestern University who specializes in the politics of debt, explains the case.