Luke Coffey is the Margaret Thatcher Fellow at the Heritage Foundation, a Washington, DC-based think-tank. He previously served as a Special Adviser in the Ministry of Defence. Follow Luke on Twitter.
The flag ship of the Argentine Navy, the ARA Libertad, has been captured off the coast of West Africa and more than 200 members of its crew have been detained — not by Royal Navy and not because of any dispute dealing with the Falkland Islands. The school and training ship, valued at $10 million, is now the property of NML Capital Ltd, a subsidiary of the US hedge fund Elliott Management Corporation, which has been battling Argentina over the country's debt default a decade ago.
The big story with Argentina this year has been Cristina Fernández de Kirchner’s increasingly bellicose rhetoric over the Falkland Islands and the 30th anniversary of the Falklands War.
However, there is another issue concerning Argentina that warrants international attention: its debt.