Judge Thomas Griesa

Argentine President Cristina Fernandez de Kirchner delivers a speech during the commemoration of the 3rd anniversary of the enactment of the broadcasting bill, at Bicentenario museum in Buenos Aires, on Oct. 10, 2012.  (credit: ALEJANDRO PAGNI/AFP/Getty Images)

US Federal Judge Orders Argentina To Pay More Than $1 Billion In Debt

Argentina has finally run out of wiggle room in a billion-dollar showdown over foreign debts unpaid since the country’s world-record default a decade ago, and the stakes couldn’t be higher for President Cristina Fernandez.