Argentina and Ecuador successfully renegotiated their bonded external debt close to the expiration deadline of their respective offers. In many senses, these stories are very much intertwined. In both cases, a parallel can be drawn between the causes and consequences of this serial defaulter pattern, and now also with the proposed remedies. Fiscal dominance Haunted by chronic high inflation, Ecuador sought inspiration in the successful Argentine convertibility regime at the turn of the 1990s. However, Ecuador…