Politics

Politics
Friday, August 22nd 2014 - 07:17 UTC

Griesa leaves Argentina 'in contempt' ledge; warns any change of jurisdiction was 'lawless'

The New York judge added that any entity that aids Argentina in its efforts to move jurisdiction would also be in violation of his sentence.

US District Judge Thomas Griesa declared on Thursday that an Argentine plan to change the 'jurisdiction' of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.

Friday, August 22nd 2014 - 07:07 UTC

Depressed Brazilian economy becomes focus of presidential campaign

Brazil's central bank autonomy and independence has been questioned by the opposition

With less than two months to the crucial 5 October presidential election, Brazil's Central Bank continued to battle economic turmoil increasing the credit available for commercial loans in the hope of boosting the country’s stagnant growth figures.

Thursday, August 21st 2014 - 08:30 UTC

Kicillof: “no change of NY jurisdiction, but a change of payment location”

 Judge Griesa “clearly benefits” 1% of creditors “that never entered and never wanted to enter” the debt restructurings, claimed Kicillof

Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.

Thursday, August 21st 2014 - 08:06 UTC

'A contempt of court does not apply to sovereign Argentina', says Capitanich

The cabinet chief during his daily morning media conference

Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.

Thursday, August 21st 2014 - 07:55 UTC

Falklands war vessel in which Argentina surrendered South Georgia, to the scrap yard

HMS Plymouth was one of the first to arrive to the South Atlantic and later to the Falklands, where she suffered damage during San Carlos landings

The Royal Navy man-o-war on which Argentina formally surrendered the island of South Georgia during the 1982 Falklands War began its final journey on Wednesday before being scrapped. HMS Plymouth could not be saved despite years of attempts to find a permanent home for the frigate.

Thursday, August 21st 2014 - 07:46 UTC

'Malvinas Institute' in La Plata university to research 'sovereignty policies'

“Our idea is to make Malvinas an important studies issue in all disciplines: from geography, to history and human rights” said Fernando Tauber

The University of La Plata, province of Buenos Aires, is setting up a “Malvinas Institute” that will specialize in 'sovereignty policies' research, as part of the Political Sciences department. The new research and extension center will be located in a former military barracks in downtown La Plata which was ceased to the university.

Thursday, August 21st 2014 - 07:31 UTC

“Slack of US labor market” keeping the Fed from raising interest rates

Many Fed members pointed to the millions of workers who have been out of work for extended periods or who are unable to find full-time employment.

The US Federal Reserve hinted that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating. At the same time, most Fed officials wanted further evidence before changing their view on when rates should rise, according to the minutes from the central bank's July 29-30 meeting.

Thursday, August 21st 2014 - 07:18 UTC

Argentina back-steps on applying 'anti-terrorism' law on a US company

Argentina's head of the securities regulator, CNV, Alejandro Vanoli said that the anti-terrorism law will not be applied against the United States printing firm RR Donnelley, as president Cristina Fernández had announced last Thursday.

Thursday, August 21st 2014 - 07:07 UTC

Aurelius Capital brands Argentine leaders 'outlaws' for flouting US courts orders

 Tuesday evening President Cristina Fernandez revealed a plan to shift interest payments to holders of the country's restructured bonds to an Argentine bank

One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.

Thursday, August 21st 2014 - 06:58 UTC

Italian bondholders' representative supports Argentina decision to change debt's jurisdiction

“I care about the money reaching bondholders’ pockets” stressed Zembo

The Italian legal representative of Argentine bondholders, Tullio Zembo praised the Sovereign Public Debt Payment Law announced by President Cristina Fernandez, saying the decision to change the debt’s jurisdiction to Buenos Aires is “probably the most appropriate.”

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