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President Barack Obama and Chilean President Michelle Bachelet pledged to work together to strengthen the ties between both nations, including projects on energy, education and free trade. Obama met in the Oval Office on Monday with Bachelet, whom he called his second favorite Michelle.
Argentina confirmed that next Monday, 7 July it will hold a meeting with Judge Thomas Griesa delegate, Daniel Pollack, in the framework of the current litigation with speculative funds, according to a Monday release from the Ministry of Economy in Buenos Aires.
The Argentina litigation with holdout hedge funds will have an additional ingredient this Monday when the Organization of American States, OAS, Permanent Council holds an extraordinary session, on a special request from Argentina, to consider a consultation meeting of foreign ministers to address the issue of sovereign debt restructuring.
Chilean president Michelle Bachelet welcomed the national football team at Government House on Sunday afternoon thus delaying for a few hours her trip to the United States where on Monday she is scheduled to meet with President Barack Obama at the White House.
Through an official press release published on Friday afternoon, the Argentine government stated US Federal Judge, Thomas Griesa, attempted to “block the payment for bondholders,” and committed an abuse of authority, after cancelling the deposit made on Thursday into a Bank of New York account.
A US judge has scheduled a hearing for Friday after hedge funds suing to collect on defaulted debt issued by Argentina complained about the country's plans to make a payment to creditors who participated in its past restructurings.
Argentina announced on Thursday morning it had deposited a billion dollars to honor restructured bonds' 30 June payment and at the same again asked for a new stay from New York Judge Thomas Griesa on the 'pari passu' ruling that forces the country to also pay holdouts 100% of defaulted bonds face value.
The US Supreme Court ruled that police officers usually need a warrant before they can search the cell-phone of an arrested suspect, a major decision in favor of privacy rights at a time of increasing concern over government encroachment in digital communications.
The United Nations trade and development agency UNCTAD said on Wednesday in a rare release that the recent U.S. court ruling on Argentina's debt erodes sovereign immunity and does not comply with the country's own U.S. Foreign Sovereign Immunities Act.
Economy minister Axel Kicillof said US courts haven't yet responded to Argentina's request this week for more time to negotiate a settlement with a small group of holdout creditors and warned the country could face a technical default next Monday if the sentence remains firm.