Default Looms For Argentina

Default Looms For Argentina
(Undated) -- Argentina's government says it will be impossible for the country to make a June 30th payment on the nation's debt. Wednesday's announcement makes default a strong possibility. The government said a court decision in the U.S. earlier yesterday raised pressure on the financially ailing country. Argentina has been fighting creditors in the courts for 12 years while the nation's economy stagnates, central bank reserves drop, and inflation soars.