Well this is ultimate stupidity.

Who would lend you anything from hereon? Who would have any faith in anything this government promises? Who would come and invest their money in a "rogue nation"? Frankly if a change of government is the cause for default (citing the debt as "illegal") then there is another strong reason for never lending anything to Ecuador. They change government too often!!

Looks like FDN may never be developed after all. Speaking of sitting on a gold mine and yet doomed to perenial poverty.