Ireland in December 2010 shows many analogies with Argentina in December 2001, when it was bailed out by the IMF. This phase of negotiations cost Argentina dearly; riots, deaths, banking collapse and frozen accounts (the notorious "Corralito"). The peso was all but destroyed with 75% depreciation and this lead to the largest sovereign default in the history of modern finance.
[This article is part of the BudgetJam series on Politico. Photograph by Hilary Quinn]