Argentina to blast ‘vulture funds’ at the G20 ministerial meeting in Mexico
Argentine Economy Minister Hernán Lorenzino and Central Bank Governor Mercedes Marcó del Pont are leading the country’s delegation in the technical G20 meeting in Mexico, where they are expected to insist on the government’s criticisms against ‘vulture funds’ and credit rating agencies.
The Government officials are taking part of different meetings during the weekend, including a dinner that Lorenzino will share with fellow Finance Ministers. International Monetary Fund chief Christine Lagarde and World Bank president Jim Yong King will also take part of the dinner.
On Sunday, following the traditional “family photo” finance ministers will meet and later issue a formal declaration and a communiqué stating the results of the meeting.
The G20 group represents 85% of the world GDP and includes the following countries: Germany, Canada, US, UK, France, Italy, Japan, Argentina, Australia, Brazil, China, South Korea, Russia, South Africa, Indonesia, India, Mexico and Turkey.
Earlier in the week Minister Lorenzino said that “the attacks on risk qualifiers and the vulture funds are not going to stop Argentina from keeping its promises” referring to the payment of large debts the country owes. But “we will not pay one dollar toward the vulture funds.”
On Thursday, President Cristina Fernández de Kirchner criticized credit rating agencies and vulture funds as she addressed the impounding of the Libertad frigate in Ghana and the New York court ruling in favour of bondholders that did not take part of the debt swap in 2005.
“It’s a court that evidently does not know enough about its own legislation”, the Head of State said, who considers that a recent ruling against Argentina by a New York appeals court “puts 93% of creditors at risk because of the holdouts.”
A federal appeals court in New York ruled that Argentina violated bond provisions to treat all creditors equally when it made payments to creditors who accepted the swaps while refusing to pay the holdouts. It said Argentina must pay the holdouts every time it services the restructured bonds.
But Cristina Fernandez said that her government “would honour its debts” and blasted the ‘vulture funds’ saying it would be ”a great deal for the ‘vulture funds’ to see us not meet our payments, since they, who are very few people, have historically made a bucket full of money every time the Argentines went broke. That's why they want to see us broken. But I have bad news for them: We are going to pay and with dollars because we have them to our creditors, but not one dollar to the ‘vulture funds’”
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You sure about that?
Guzz
I haven't heard that rumour doing the rounds. Are you sure you didn't just make it up yourself?
No doubt the upcoming meeting in Mexico will also be another ideal venue to discuss the sovereignty of the Falkland Islands. Ironic really because Argentina would be straight in there like vultures themselves if the UK military they moan about was withdrawn.
I hope Lorenzino is planning on getting a haircut before he goes. Otherwise they'll all be calling him Loren for short.
If you were being cynical, this could have a serious diplomatic problem if say an Argentine vessel was forced to put into Port Stanley due to 'technical' problems and the hedge funds tried to seize that asset whilst in port. Can you imagine the screeching that CFK would put out if that were to happen?!
What's the point? They are legal companies operating within the law.... just pay up.
----------
“”“”they, who are very few people, have historically made a bucket full of money every time the Argentines went broke. “”
Is it just me who finds this statement by the head of a nation as rather noteworthy?
Not “when we went broke” but “every time we went broke”.
*cough cough*
I am wondering how many other Int'l institutions they will lose membership in....
I wouldn't mind a hanky but only because I'm crying from laughing so much. It doesn't affect us. We all expect Argentina to renege on its contracts. Nobody would expect less. We also expect vulture funds to go to town on them like they are.
I was a member of HM Forces and I can't imagine how bad an ARA Libertard type experience would be on morale. We had our faults and we didn't always have the best of kit or the number of bodies to do the job as ideally as we might have but we never worried about whether our country could afford to pay its bills. If I was away on an exercise or operation and someone impounded some of my kit I can't imagine what that would do to my confidence.
Try other buttons, if SA needs an army, the people will suffice...
LOL! If the morale of Argentine troops was better in 1982 you wouldn't be on here now crying that Argentina should have control of the Falklands. You dumb fucking deadbeat.
Chuckle chuckle.
“chuckle chuckle”
Who are you trying to kid?
Did you see in one of their nutty protests one of the crazies was burning our flag and died from the fumes.
that'll learn 'em
haha
Cristina Fernandez criticizes US court and promises all debt bonds will be paid in dollars
Argentina is refusing to pay the 20 million dollars in ransom that New York hedge fund dealer Paul Singer is demanding
ARA Libertad: Argentine president pledges to never yield to ‘vulture’ funds
LOL....... Does anyone in the Argentine Government know what anyone in the Argentine Government is doing about this???
With all your glorious history (???) and scrap metal, having a woman kicking you around like that must be terrible...
We knew Chavez was too much to handle for you lot, him being a man and all, but CFK?
The cookie jar is almost empty, and she still doesn't listen... Well, have another one on me :)))
Not crying Guzz, but laughing. We love the Argie Women that is KFC, she is now of the best comedians in politics.
@11 What facts? That argieland is a cheating, lying thief?
@12 I agree. But then argieland never satisfied the criteria. They are there so that proper nations can get an idea of the reactions of third-world countries. But I think G20 went too far in selecting argieland. They should have selected the Netherlands or Saudi Arabia. Argieland wastes too much time. Nor is it either intelligent or mature.
@15 An “army” of faggots! Ahahahahahahahahahahahah!
@17 Our “experiment” has lasted longer than yours!
@19 A sight more important than your third-world, lying, thieving cesspit!
@22 Not sure why you would think that hedge funds are terrible. They are only a form of investment. Let's suppose you buy a house. You are investing in what you hope the future will be. And you hope to get more back than you paid. You are “hedging your bets”. Hoping you will get more money than if you keep your money in your pocket. Where's the problem?
@26 Chavez will be dead soon. Will he do a Hitler or a Mussolini? Or will he finally have to realise that God really is on OUR side?
Unfortunately your emotions get the better of your reasoning.
What does your Dr say?
Plus you 've never said no...
Maybe the answer is to stop going broke.... stupid woman
Spoken like a true, low-life welcher.
Let them expropriate the ships and let's go after all the American and british firms and mining corporate polluting out lantin America, everyone in south American should bring their pollution complains to Argentina's courts ASAP. This is how vultures do it.
www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9646826/Argentina-told-to-seize-up-to-19.2bn-of-assets-from-Chevron.html
“Ecuador has asked Argentina to seize up to $19.2bn of assets from Chevron in the latest twist in a long-running lawsuit over pollution in the Amazon rainforest.
The oil giant will also have its bank accounts in Argentina seized and gas sales frozen, a judge has ruled.
The 2011 ruling, one of the biggest of its kind in history, stated that 30,000 residents of Ecuador's Lago Agrio region had been harmed by the operations of Texaco, which Chevron bought in 2001.”
if that were true why do you spend so much time going on about it?
--------
”These Brits and their imperialistic mindset think a persons origin affects what they believe in :)))”
says the Pro-colonialist argentine white supremacist... erm wtf?
#43 did you ever meet any english man who wasn't a war monger? That should explain everything shouldn't it?
#44 i see your burp and rise you a Yawn and a Fart!
www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9646826/Argentina-told-to-seize-up-to-19.2bn-of-assets-from-Chevron.html
“ cuador has asked Argentina to seize up to $19.2bn of assets from Chevron in the latest twist in a long-running lawsuit over pollution in the Amazon rainforest.
The oil giant will also have its bank accounts in Argentina seized and gas sales frozen, a judge has ruled.
The 2011 ruling, one of the biggest of its kind in history, stated that 30,000 residents of Ecuador's Lago Agrio region had been harmed by the operations of Texaco, which Chevron bought in 2001.”
So what is your story then??? Again I will ask the question:- Where is it that you are living? Sweden / Denmark??? and you are self professed Uruguayan??
so the question that springs immediately to mind is:- what the hell do you care???
Considering all the s**t that Argentina has put Uruguay through why the hell are you so bothered about the state of Argentina?
If you are sssssoooooo proud of your country why are you not living there you fraud?
One can only assume that you are in some way, ashamed of the counrty you once lived in which is why you are now living in Europe.
I'm anti colonialist, Uruguayan, mestizo and not at all supremacist. The FI don't interest me whatsoever. My interest lays in showing all those Brits bashing Argentina, grasping for anything they can, that Britain has her own issues, and they should really sort them out before pointing fingers at Argentina.
When they start calling us spics, well, I start calling them gringos. I don't set the tone, I never have. Just know I will bash Britain as long as they bash Argentina. I don't hear anyone com
#5 “I hope Lorenzino is planning on getting a haircut before he goes. Otherwise they'll all be calling him Loren for short”
Like Sophia Loren you mean? But thats Cristina is already the Sophia Loren of politics =)
#26 ”Damn, that woman makes you cry :)))
With all your glorious history (???) and scrap metal, having a woman kicking you around like that must be terrible...
We knew Chavez was too much to handle for you lot, him being a man and all, but CFK?”
Brilliant Guzz! The truth is despite being pretty and petite she has more balls than the lot of them combined, and they hate her for it =)
Your definition of vulture / hedge funds is lacking in depth. Try here: en.wikipedia.org/wiki/Vulture_fund
Again, vulture funds are a deterrent to default.
“Ecuador has asked Argentina to seize up to $19.2bn of assets from Chevron in the latest twist in a long-running lawsuit over pollution in the Amazon rainforest.”
www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9646826/Argentina-told-to-seize-up-to-19.2bn-of-assets-from-Chevron.html
“The oil giant will also have its bank accounts in Argentina seized and gas sales frozen, a judge has ruled.
The 2011 ruling, one of the biggest of its kind in history, stated that 30,000 residents of Ecuador's Lago Agrio region had been harmed by the operations of Texaco, which Chevron bought in 2001.”
LOL!
As always, I love it. Ha ha. Sophia Loren huh. LOL! I think Sophia has a few more trophies than your glorious president.
Keep it up mate and you'll be nominated for an academy Award yourself one day.
“Britain has her own issues, and they should really sort them out before pointing fingers at Argentina”
We know Britian has her own issues. Most of them are due to the attitude of KFC / TMBOA / Ol' Turkey Neck / The harpy.
Oh the way, it seems that you have a very short memory as well Guzzy me ol' china. on another thread we you not bashing “The West” so it would appear that you not only have a problem with Britian but with the whole of “The West” as well.... and like i said on that other thread, you really are a weapons grade idiot.
Do you always have to bring up this Chevron crap with every article? Can't you think of something new that doesn't have anyting to do with the present article? Can't you copy and paste something else? This article is not about Ecuador.
CFK's fault? Libor? Pensions? Unemployment? Divided society? Legal thieves dressed as bankers? CFK's fault???
“CFK's fault? Libor? Pensions? Unemployment? Divided society? Legal thieves dressed as bankers? CFK's fault???”
Yes!!! It is!!! Her government has the worst record of stealing off her own people speaks for itself!!!!!
Why don't you solve your own issues instead of helping Singer fill his pockets? Anyone?
jajaja look who is talking about death!
Isolde stop placing stupid comments!
Always moaning, she follows the world’s leaders around the globe like puppies following their masters,
CFK will send her puppies to the local nursery next,
Just pay your debts,
You are setting a very bad example to other tin pot idiots who wont pay there way.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Still,
If she and her indocronoughts on here can divert attention from her countries problems, all the better,
What’s the betting that Ghana is brought up,
And the brits get the blame..
.
Oh Guzz. You'll have to try harder than that. You know and we all know that the UK IS paying its debt back. That's why it's credit rating is still the highest it can be at AAA. You know and we also all know that Argentina's rating is B minus because it's becoming increasingly unlikely to pay its debt back.
Don't fall down as low as Tobias, TTT and (insert about a dozen other troll names here) did when he started saying that the credit rating agencies are all just conspiring against Argentina while protecting the UK, Europe and the US.
Just for the record and so that I can place you at the right level in comparison with others such as TTT, would you kindly explain your opinion of why the UK has a AAA credit rating? Please. For once see if you can answer rather than just avoiding the question. I love a good conspiracy theory so don't hold back what you really think.
Oh Guzz, for the record we have paid a quarter of our defecit back in the last 2.5 years. Can you say the same?
It's time for either payback or default, default most likely.
The next govt. of Argentina will have a massive way to go to restore credibility, will take decades to fix this mess.
Britworker
How come you owe more now than 2.5 years ago?
Started so well for YPF, so many investors, so much interest, even by stealing 10bn off Repsol, still destined for failure, very sad.
the brits and the rest of the world are wrong,
and CFK and argentina is right,
we are all in debt,
and argentina is solvent,
we are all poor, and argentina is rich,
we have no navy,
and argentina has hers in captivity,
mmmmmmmmmmmmmmmmmmmmmmm
Farewell to the Libertad then.
“You don't. According to Dagong, you rate A+, with negative outlook.”
Dagoong has already been discussed on here, at length. It is one private agency and much discredited, “with a negative outlook”.
I guess you can find all the negative stats you want, though...
The Telegraph
9:30AM GMT 04 Nov 2012
“British have invaded nine out of ten countries - so look out Luxembourg”
“Britain has invaded all but 22 countries in the world in its long and colourful history, new research has found”
“Incursions by British pirates, privateers or armed explorers have also been included, provided they were operating with the approval of their government”
www.telegraph.co.uk/history/9653497/British-have-invaded-nine-out-of-ten-countries-so-look-out-Luxembourg.html
You lot discrediting Dagong only serves to proove the opposite, it's like with everything else, if you lot say yes, the answer is most probably no...
Marcos
I'll be damned, but not surprised ;)
These words will come back to haunt the Arg. Govt.
Default II
So what?
Just what does that have to do with Argentina refusing to pay its debts, and just bleating about it so anyone and everyone?
I bet they won't even be able to put it on the agenda at the G20, so they'll wander around crying to anyone that will listen (which won't be many), and come back claiming that every country in the world supports them.
All the Argentina government do is talk. We're going to do this, we demand that; but when it comes down to it, all it is is hot air without any substance.
Successive Argentine governments have ruined your country. Now the current government is determined to destroy any credibility that you may have had left.
No one is willing to invest in Argentina because you refuse to honour your debts.
Even your bestest friends the Chinese wouldn't touch Argentina with a barge pole.
But what does your government do? Does it talk to their creditors and try to come up with a solution to the problems? Does its at least start to pay off some if it's debts? No, it claims that there is an international conspiracy against them.
It just makes them look foolish, immature, paranoid and pathetic. No wonder no one is willing to invest one cent in Argentina, let alone millions of dollars.
Just shows your invasive nature, and regarless of what you think, it's not Arg's fault..
“it's not Arg's fault..”
It is, as they borrowed money. If you don't want to be hit like this, don't borrow the money in the first place. Argentina wants everything the easy way, but finds out its hard. Like invading the Falklands in 82 with no more than 100 defending troops was easy. But your mates didn't think things through, they were convinced the UK would not react.
It did.
You lost.
Through not thinking through cause and effect.
And Argentina still cannot grasp cause and effect, so when the effects strike them its everyone else's fault.
Except it isn't-it's Argentina's fault.
That means: Resisters against breach of contracts and the blackmailing of the blackmailers ck and her gang are the crooks, not the blackmailers. This is the actual arg law. fantastic!
Who is idiotic enough to lend money to such ”partners” of hell? venezuela and ANSES with money of the arg people savings. Crooks!
So what? Britain invaded some countries a long time ago. Lots of countries invaded other countries, so it's hardly news.
But just what does Britain invading other countries in the past have to do with the fact that Argentina refuses to pay its debts, and is seen as a dead beat by the international community?
By the way, Ghana still has your flag ship, and South Africa will soon have one of your Frigates.
Weakkkk
Two, “WARSHIPS” LOL
???
“Gringo mariposa”
Well, Guzz, I do know that mariposa means butterfly, my daughter works at a dress shop called Mariposa.
“Gringo” mariposa??
Are you suggesting that I am a “maricones”?
“Gringo”??
I thought you reserved that for people that call you “spics”?
I have never used the racial/ethnic slur, “spic”.
Should I start calling you “Spic Maricones”??
Mariposa is indeed butterfly, nothing to do with maricon. It's just a description of a person that is long past the gusano stage, which is literally a larva... ;)
www.flickr.com/photos/63340608@N05/sets/72157631894712540/
As they said??
If it’s British, its very welcome,
If it’s an argie impound it, lol.
.
www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9646826/Argentina-told-to-seize-up-to-19.2bn-of-assets-from-Chevron.html
“Does anyone know what the CIA gets payed for?..”
Funny you should ask a question like that.
CIA ?? don't know... its secret.
La Campora pays activists and propagandists, though !!
I guess you didn't know that either !
La Campora who live in Argentina get PAID for their services - at least enough to keep them in watery beer and sausages. That way, they can stay on the computer all day. Not that there is any work for angry young unskilled thugs in Argentina, anyway.
Oh, I guess YOU don't get paid, do you?? No way that CFK will send USD out of Argentina for the likes of you, when she knows you will suck up for free !!!
LOL LOL LOL ALEX !!!
Exactly how many times have Argentina gone broke.
Did Barrick Gold sneak into Argentina or invade? I don't think so, they were asked to come and they did. Argentines should blame their own government or at the very least educate someone in your population to exploit your own resources by yourself and then you wouldn't have to rely on other countries to exploit them for you.
(Yes I get the irony that Barrick is a Canadian company in Arg, and Pirat is a repressed sp.... oops Argie homo living in Canada)
you are going to have a rather hard time convincing ANYBODY of that after N8.
in fact, not to push a VERY obvious FACT..but, you're talking total bollocks...and the million+ proof just spent yesterday on the streets of BA and all around the world, calling your bluff and showing you just how much horse-shit is being shoveled by paid-sympathizers of CFK..and EVEN THEN it isnt enough to convince anybody but the already deluded.
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