In a defiant speech President Cristina Fernández reiterated on Wednesday that Argentina will not fall into default and warned that they will have to invent a new word to explain how a country has paid its debt and someone blocked it.
A 1951 Cadillac limousine owned by former Argentine president Juan Domingo Peron will be auctioned at Silverstone Auctions in England. The car, which was part of a Peron-Eva exhibition at the Eva Peron Museum in Buenos Aires, is privately owned, and was handed over to the auction house. The Cadillac has an estimated value of between 200,000 and 260,000 pounds.
Argentina reacted strongly to Tuesday's events in the New York federal court which denied its stay request, claiming Judge Thomas Griesa did not solve absolutely any of the issues for which he summoned today's audience, insisting with his unbelievable ban on structured bonds' collecting their payment.
Following on Tuesday's audience with Judge Thomas Griesa, NML Capital the leading speculative fund litigating with Argentina, issued a release saying “it is willing to hold a meeting with 'Special Master' Daniel Pollack and Argentina to solve the dispute”.
US Judge Thomas Griesa rejected on Tuesday Argentina’s request for a suspension ('stay') on the ruling that ordered Buenos Aires to pay 1.3 billion dollars plus interests to holdout speculative funds and instructed Argentina and holdouts to meet on Wednesday morning for a first face-to-face meeting.
Argentine investigative reporter Jorge Lanata, loathed by the current government of president Cristina Fernandez for his disclosure of the close business links of certain unscrupulous entrepreneurs (or most probably straw-men) who have become millionaires during the Kirchner years, has now exposed the 'calamitous' state of the Argentine armed forces equipment.
Argentina asked U.S. judge Thomas Griesa on Monday to put on hold an order requiring it to pay bondholders who did not participate in debt restructurings following the country's 2002 default, while it seeks a global resolution.
Argentina's current confrontation in New York with Judge Thomas Griesa and the holdout speculative funds brings up the issue of having resigned the sovereignty of Argentine courts at the time of negotiating or restructuring foreign debt.
Ten hectic days ahead for Argentina since come 30 July and no agreement has been reached at the New York court of Federal Judge Thomas Griesa, (full payment plus accrued interests to holdout speculative funds) the country would be forced to a second default in twelve years with all the political consequences for Cristina Fernandez and Mercosur.
President Cristina Fernández used her Twitter account on Sunday to comment on last week’s heavy agenda with the visit of Russia’s and China’s presidents and the BRICS-UNASUR summit in Brazil. “It has been an important week for Argentina,” she said.