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Will US court’s Argentina verdict impact Turkey?

Argentina's recently declared bankruptcy may set a risky precedent for high-debt countries like Turkey.
Turkey's Central Bank headquarters is seen in Ankara January 24, 2014. Turkey received a vote of confidence in its underlying economic health on Thursday, with foreign investors lapping up a $2.5 billion eurobond issue even as a corruption scandal swirled and the central bank intervened to prop up the lira. The graft investigation, one of the biggest threats to Prime Minister Tayyip Erdogan's 11-year rule, has shaken Turkey in recent weeks, helping send the lira into a tailspin and heightening uncertainty a
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At the end of July, Argentinian Economy Minister Axel Kicillof appeared on TV in New York and declared bankruptcy for his country, sending US markets into turmoil.

How did this unexpected bankruptcy come about? In 2001, when Argentina could not pay its debts, it borrowed heavily from US hedge funds to cope with the crisis. Now, it couldn’t repay on time its $1.33 billion debt in bonds and called for a rescheduling of its payments.

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