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Argentine holdout creditor Aurelius Capital Management has said that after talks with many financial institutions, the prospects for finding a private-settlement solution to the Argentine sovereign debt dispute had garnered no realistic proposals.
Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told sources in Buenos Aires, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.
The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.
US Federal Reserve Board Vice Chairman Stanley Fischer said that the economic recovery has been and remains “disappointing” and made it clear that he expects monetary policy to continue to play a significant role in encouraging growth in the future.
A Judge from Argentina's Supreme Court joined the ongoing battle in New York between the Argentine government and the holdouts and slashed out at the US Supreme Court for rejecting to take the case back in June. Eugenio Zaffaroni argued that the conflict must be addressed in the context of attacks from the global financial power on political power.
A spokeswoman for the U.S. State Department said the United States would not permit the International Justice Court in The Hague to hear Argentina's claims that U.S. court decisions had violated its sovereignty.
Economy ministry Axel Kicillof once again defiantly insisted Argentina has made a required debt payment on restructured sovereign bonds on Friday night, just hours after a U.S. judge threatened a contempt-of-court order if Argentina did not stop issuing such statements.
New York district judge Thomas Griesa on Friday threatened to declare Argentina in “contempt” of court if the Republic continues to make “false and deceiving statements,” following Argentina’s claim it has already paid exchange bondholders and has no pending obligations, as it deposited 539 million dollars in bond payments in Bank of New York Mellon (BoNY) and Citibank.
Fifty years ago, a controversial confrontation in the Gulf of Tonkin between the United States and North Vietnam forces set the stage for what eventually became US involvement in the Vietnam War.
Forty years ago on August 8, 1974, Richard Nixon became the only US president to resign from office. His departure came because of his involvement in the Watergate scandal and subsequent cover-up, which began when Republican campaign operatives broke into Democratic Party headquarters in the Watergate office building in Washington in June of 1972.