Argentina resisting, shame we do not have Manager

Argentina pays restructured debt maturity

At the time more than one billion dollars are paid through the Bank of New York to settle the share of restructured bonds maturing in 2005, avoiding falling into the dreaded “technical default”.
Paid today aware that tomorrow is the Day of the State Employee and therefore there will be no activity in much of the public administration, and bonds set to be paid the day before the last business day, so it has avoided the vultures can arrive in time to seize the two accounts in the Central Bank has said New York bank and thus ensure the compulsory collection.
This gives lighter to handle the situation expecting arrive January 2015.
Ugh! ……..

As shown, we’re all together stopping those who want to come. All within of the field. Unfortunately the Manager (meaning the president) do not know to play.


Causes and consequences of the judgment of the Court of the U.S. against Argentina

A day ago has known the decision of the Supreme Court of the United States of America where Argentina appeal against the judge’s ruling Griesa New York is rejected and ordered to pay “immediately” U$  1,300 million a vulture fund NML.

Beyond all the analyzes that could be done about the sorry role of political opponents (actually opportunists) who went out to support the ruling, and the extreme right press is happy, a serious problem arises for the future economies of nation-states.

1 – If this decision becomes final, the possibilities fall sovereign restructuring in the medium and long-term debt, including the debt of Europe and, most likely, the United States of America, for the precedent that will be set a sufficient 1% for the remaining 99% lose their rights to demand that those who do not enter the swap.

2 – If this happens, and the sovereign debt payments can be decided at the offices of a judge, no use of economic and foreign policies of the governments of the respective States, as sufficient that a person‘s divine right to arrogate decide that a republic must pay a 1% to 92% with priority, to which you can prevent charging and sentencing him to a “technical default”.

- He was more than clear on the process followed by before the New York court that NML never was harmed by the Argentine government, but the fund took advantage of the need for the bondholders who sold off their roles for this group to litigate against a republic and profit of over 400%. In short, both Griesa as the U.S. Supreme Court have validated a scam made ​​by those who have no financial need against those who were actually defrauded by the Argentine government. So for the U.S. justice” not interested NML bought these bonds in 2008, three years after the Argentine government had exchanged more than 85% of its defaulted debt for new bonds. Speculation has been validated and has been caught up with the economic policy of a sovereign state.

4 - Pay to the terms set by the judge Griesa would violate the rights of the 92% who entered the trade voluntarily, and generate - this is the worst thing - the right to execute that 92% of the Argentine State to be paid 100% and in one payment. Needless to say that the absolute inability to pay is just around the corner.

5 - The Secret of the strategy, in my humble opinion, is to January 2015 and attempt to generate a new negotiation with these funds, which - like it or not - now have a decision of justice from the main power world. Why that date? You can not pay any creditor in more advantageous conditions than those who enter the swap, because they would entitle them to sue in the same conditions the Argentine State. That clause expires in December.

Finally, I was greatly surprised that the adjective lofty economists, journalists and politicians said about the handling of the debt by the Argentine government, “improvisation.”
I’m not official, I’m hyper critical of his foreign policy, but if there is one area where this government deserves recognition, it is precisely in management that had national public debt.
Hopefully prime wisdom and sanity in government and opposition leaders, and instead of petty calculations consider a strategy to avoid the “greater evil“, not only for Argentina, but rather over much of Europe and on Washington.

US Supreme Court

The U.S. Court refused to treat the case of Argentina by vulture funds

With this ruling, the case returns to court Griesa Judge who had ruled in favor of groups of bondholders.

The Supreme Court of the United States rejected a request from Argentina to intervene in the trial between the country and holdouts and review adverse decisions of first and second instance requiring the payment of 1,330 million, reported this morning U.S. trade media .

The maximum American judicial tribunal had met in Washington on Thursday and postponed until today the official communication on its determination, which was unfavorable to Argentine interests, although in the last hours had gained strength version that the Court would request a review the new Obama administration.

With this decision, the only unfavorable against two other more beneficial for Argentina could have adopted the Court, Argentina would have to pay before June 30 about 1,330 million to bondholders in default.

Minutes ago he had published:  Holdouts: U.S. Court defines if you take the case of Argentina

Argentina President Cristina Fernandez de Kirchner, announced on national TV that talk about this topic at 20:00. local