United States

United States
Saturday, June 21st 2014 - 09:31 UTC

Cristina Fernandez calls for negotiations: “we want to pay 100% of creditors”

On Friday at the foot of the National Flag monument, Cristina Fernandez left aside the harsh rhetoric and called for dialogue

In a conciliatory speech compared to previous statements, President Cristina Fernandez said on Friday her government would negotiate with all of Argentina's creditors in a bid to avoid a new debt default that would further weaken the country's ailing economy.

Friday, June 20th 2014 - 07:21 UTC

After all: Argentina seems willing to start discussions with Griesa and hedge funds

President Cristina Fernandez rhetoric and defiant speeches are immediately reported to Judge Griesa

After a day of fury and discussions with cabinet members, advisors and experts, Argentine president Cristina Fernandez will be sending a government delegation to New York to meet Judge Thomas Griesa and the hedge funds holdouts' solicitors and begin, hopefully, a round of negotiations to reach a settlement on the bonds litigation.

Friday, June 20th 2014 - 06:42 UTC

Argentina's Supreme Court loss may serve as a wake-up call

In years gone when a country defaulted the U.S. Navy might have shown up demanding gold but nowadays it is epic legal battles.

The following piece by Charles Lane published in the The Washington Post offers an interesting debate about future bailouts and sovereign debt restructuring, following on Argentina's case.

Friday, June 20th 2014 - 06:19 UTC

Mujica delivers Obama message to Castro: 'let's talk about lifting the trade embargo”

Mujica with Obama at the White House during last month's visit to Washington

Uruguay's president Jose Mujica delivered a message from Barak Obama to Cuba's Raul Castro proposing the opening of dialogue to discuss the blockade, reported the Montevideo media on Thursday. The occasion was the recent G77 summit held in Bolivia.

Thursday, June 19th 2014 - 18:33 UTC

Argentina says June 30 bond service in New York was made 'impossible' by lifting 'stay' order

Kicillof's ministry made the announcement late Wednesday which means an imminent 'technical default'

Payment of bond service due on June 30 in New York has been made “impossible” by Wednesday's lifting of a stay by a U.S. federal court, Argentina's economy ministry said on Wednesday, in a move that appeared to push the country closer to default.

Thursday, June 19th 2014 - 06:09 UTC

Fed cuts US growth forecast, but will also further trim stimulus program

As far as interest rates go, Ms Yellen said they would remain near zero “for a considerable time” after the bond buying ends.

The US Federal Reserve has cut its growth forecast for 2014 because of the harsh winter weather. The central bank is now predicting growth of between 2.1% and 2.3% for this year, down from its March forecast of 2.8% to 3%.

Thursday, June 19th 2014 - 02:26 UTC

Griesa does not trust Cristina Fernandez and condemns the word “extortionist”

 “There is a difference between negotiation and extortion” Cristina Fernandez said after the Supreme Court decision

US Judge Tomas Griesa said on Wednesday that the televised speech delivered by President Cristina Fernández on Monday after the US Supreme Court declined to hear an appeal by Argentina in its battle against the holdouts was “a problem” for negotiations and implied he did not trust the Argentine leader.

Wednesday, June 18th 2014 - 08:20 UTC

Obama pledges to crack down on illegal fishing and enforce traceability

The message was delivered in a taped message from Obama and in person by Kerry at an “Our Ocean” conference in Washington

The Obama administration announced on Tuesday an initiative to track every fish sold in the United States, a move designed to crack down on illegal, unreported and unregulated fishing, mislabeling of seafood and related problems.

Wednesday, June 18th 2014 - 07:52 UTC

“Judge Griesa's message is reasonable and conciliatory” argues Lavagna

“Take notice of the subtle and surprising statements from Griesa to sit and negotiate”, insisted the former Economy minister

Argentina's former Economy Minister and architect of the 2005 rescheduling of defaulted debt, Roberto Lavagna called for “calm” and “seriousness” to rethink the country's legal strategy following the setback suffered on Monday when the US Supreme Court decided not to hear its appeal against holdout hedge funds.

Wednesday, June 18th 2014 - 07:45 UTC

IMF concerned about 'wider systemic implications' of the US Supreme Court decision on Argentina

“We now have a glimpse of the sovereign debt world after Argentina,” said sovereign debt expert professor Anna Gelpern.

The International Monetary Fund is “concerned about wider systemic implications” the ruling by the US Supreme Court could prompt following its decision not to consider Argentina’s appeal aimed at staving off a default.

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