Inflation downplayed as Argentina recovers

Buenos Aires, Argentina (CNN) -- In December 2001, Argentina defaulted on $100 billion in debt -- the largest default in history. The move ushered in an era of utter chaos: five presidents in two weeks, cash and food shortages, deadly riots and dire poverty.

According to analysts, the crash occurred because of Argentina's enormous debt load, high public spending and overvalued currency. Greece now carries similar burdens, which has led some observers to suggest that Greece should follow Argentina's example and default and devalue.   More Read