Argentina is facing a debt crisis even after its attempt to avoid disaster by a series of fiscal and liability management measures, including a tax increase and a large IMF-led rescue package. In fact, this postponement risks increasing the eventual damage to Argentina and to other countries.

Claude E. Barfield and Mark Falcoff will discuss the various effects this crisis will have on Argentina and other countries, and Charles W. Calomiris will offer a four-point scenario that should be considered in any effort to resolve it. Brief remarks by each of the panelists will be followed by a question and answer period.