Tag: Argentina

Argentina
Friday, August 1st 2014 - 02:43 UTC

Saying Argentina has defaulted is “an atomic nonsense” underlines Kicillof

The minister again bashed Judge Griesa and his 'incongruence” reflected in the ruling that allows 1% to block 92% of legitimate bondholders

Argentina's Economy Minister Axel Kicillof denied point blank that Argentina defaulted on its debt and described such statement as “an atomic nonsense”. The minister gave a press conference in Buenos Aires a day after the failed negotiations with holdouts in New York and claimed ”those who today cheer the apocalypse, applauded the 2001 (crisis).”

Thursday, July 31st 2014 - 22:10 UTC

Judge Griesa summons Argentina and holdouts for a Friday hearing

The judge's court filing said Friday morning the case will be “regarding the recent default by the Republic of Argentina,”

After negotiations between the Argentine government and the speculative funds, led by US Special Master Daniel Pollack failed, New York District Judge Thomas Griesa called for a new hearing between the parties for Friday at 12 pm (Argentina time).

Thursday, July 31st 2014 - 07:05 UTC

Kicillof blames Judge Griesa for the 'no-deal' situation with holdouts

According to Kicillof, Judge Griesa is allowing 1% of holdouts to block 92.4% of bondholder from collecting their coupons

Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors and special mediator Daniel Pollack ended without a settlement on Wednesday.

Thursday, July 31st 2014 - 07:01 UTC

Argentine football decrees 7-day mourn for Grondona's death; Blatter expected for the funeral

A controversial but flamboyant character, Grondona was undisputed boss of Argentina football for 35 years

The head of the Argentine Football Association (AFA) and second-in-command of the FIFA international football governing body passed away at the Sanatorio Mitre private medical center where he had been hospitalized for a cardiac failure earlier on Wednesday.

Thursday, July 31st 2014 - 01:15 UTC

“Argentina will imminently be in default: no agreement was reached”, said Pollack

Special Master said default is not a mere “technical” condition, but rather a real and painful event that will hurt real people

“Unfortunately no agreement was reached and Argentina will imminently be in default”, admitted Daniel A. Pollack, the Special Master appointed by Judge Thomas P. Griesa to conduct and preside over settlement negotiations between Argentina and its holdout bondholders. Pollack emphasized that with default “the ordinary Argentine citizen will be the real and ultimate victim”.

Wednesday, July 30th 2014 - 08:02 UTC

Argentine private banks prepared to buy holdouts' credit; Kicillof/Pollack talks to continue today

 “These were the first face-to-face talks between the parties. There was a frank exchange of views and concerns; issues remain unresolved”, said Pollack

“Special Master” Daniel Pollack, the mediator appointed by US judge Griesa to resolve the dispute between Argentina and the speculative funds' holdouts said the parts talked “face to face” for the first time and assured a new meeting will be confirmed during the day. If a deal is not reached Wednesday sunset Argentina could again fall into default.

Wednesday, July 30th 2014 - 07:33 UTC

Leading universities from Argentina, Brazil and Mexico sign cooperation agreement

Emilio Botin announced at the conference's closing ceremony that the Spanish bank will invest 700 million Euros to support Ibero-American universities

The presidents of the University of Buenos Aires, (UBA), the National Autonomous University of Mexico, (UNAM), and the University of Sao Paulo, (USP), on Tuesday signed a cooperation agreement governing the recognition of titles, student exchanges and cooperation in finding financing sources.

Wednesday, July 30th 2014 - 01:26 UTC

Tevez' father victim of a double crime, released after paying ransom

Segundo Tevez was first car-jacked, but when criminals realized he was Carlitos father they returned and abducted him

The father of Juventus forward Carlos Tevez, Segundo Tevez, has been released after being kidnapped for more than eight hours in the city of Morón, in Buenos Aires province. The player later thanked those who had sent their support during the ordeal.

Tuesday, July 29th 2014 - 06:59 UTC

Pollack confirms meeting with Argentina on Tuesday, 24 hours before 'D' day

 Argentina has until Wednesday to either pay the New York hedge funds suing for full repayment on their bonds or reach a deal.

Argentina will sent a negotiation team to New York on Monday for further talks with a US court-appointed mediator Daniel Pollack in its debt dispute with “holdout” investors, Cabinet Chief Jorge Capitanich said earlier, with just two days left to avert a default.

Tuesday, July 29th 2014 - 05:43 UTC

Some Euro-bond holders willing to waive the RUFO clause, says Bloomberg News

The article was credited to Katia Porzcecansky based on a letter from the group's solicitor Christopher Clark

A group of creditors holding about 28% of Argentina's Euro-denominated debt said it would be willing to waive a clause that’s hampering a deal between Argentina and holders of its defaulted bonds from 2001, according to a report by Katia Porzecansky published by Bloomberg News.

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