Farmers begin a seven-day strike in Argentina.
Argentinian voters go to the polls to elect a new president. Though the margin is lower than what opinion polls predicted, Alberto Fernández of the left-wing Justicialist Party beats incumbent Mauricio Macri of the center-right Republican Proposal. Macri becomes the first president in Argentinian history to lose his reelection bid.
Following a court order that payments to most bondholders be stopped until holdouts were paid, Argentina has defaulted on some of its bonds after negotiations fell short of reaching a deal with hedge fund investors demanding a full payout of US$1.3 billion on bonds.
2001 Nobel laureate economist Joseph Stiglitz warns of a "wave of austerity" set to sweep across Europe, triggering a new recession and the demise of the euro, and predicts Spain will enter a "death spiral" - similar to that of Argentina a decade ago - when it is attacked by speculators.