United States

United States
Saturday, August 2nd 2014 - 09:08 UTC

IDSA decides that Argentina “failed to pay” and thus declares it has defaulted

ISDA's 15-member determinations committee decided that a “failure to pay” event has occurred on the contracts on July 30

The International Swaps and Derivatives Association (ISDA) on Friday declared Argentina in default, which could trigger payments worth up to one billion dollars on credit default swaps.

Saturday, August 2nd 2014 - 08:58 UTC

Argentina suggests Griesa and Pollack are actively helping holdouts by declaring a 'default'

Thus Argentina for these reasons, “reiterates its request, by writing, that the mediator be replaced”.

The Argentine Economy Ministry claimed on Friday New York judge Thomas Griesa has benefited “vulture funds” during negotiations over Argentina's defaulted debt with holdouts and asked the (Argentine) National Values Commission (CNV) to start an investigation over alleged “speculative moves”.

Saturday, August 2nd 2014 - 08:32 UTC

US economy creates 209.000 jobs in July but unemployment edges up to 6.2%

The US economy expanded at a 4% seasonally adjusted annual rate in the second quarter after a steep 2.1% contraction in the first quarter

The U.S. economy added 209,000 jobs in July, the Labor Department reported on Friday. However the unemployment rate edged up to 6.2% from 6.1%, somehow confirming the Federal Reserve concern about still weak employment.

Saturday, August 2nd 2014 - 04:08 UTC

Griesa orders Argentina/holdouts to resume negotiations and an end to 'misleading information'

 The Judge told Argentina lawyers “to take steps to stop the misleading information being released by the Republic”

US District Judge Thomas Griesa presiding over Argentina's bitter dispute with two hedge funds left the country stranded in default on Friday, ordering it to hold new negotiations and calling for an end to “mistrust”. In a stern tone Griesa slammed the decision by Argentina to defy his order that it pay in full holdout investors and instead opted to default on 29 billion dollars in debt.

Friday, August 1st 2014 - 08:33 UTC

US calls on Argentine government to seek 'practical solutions' with holdouts

According to acting ambassador Kevin Sullivan, “there are still possibilities to achieve an agreement.”

Kevin Sullivan, US interim ambassador in Argentina affirmed on Thursday that the country must seek “practical solutions” with the 'holdouts' or the so called vulture funds over defaulted bonds.

Friday, August 1st 2014 - 07:57 UTC

World economists call on US Congress to take action on the Argentina/holdouts rulings

Forcing Argentina into a default that nobody wants ”is wrong and damaging,” said Mark Weisbrot, Co-Director of Center for Economic and Policy Research

Over 100 economists, including Nobel laureate Robert Solow, Branko Milanovic and Dani Rodrik called on the United States Congress to take action to mitigate the harmful fallout from the recent ruling by Judge Griesa of the U.S. District Court for the Southern District of New York that requires Argentina to pay holdout creditors at the same time as the majority of creditors.

Friday, August 1st 2014 - 07:52 UTC

Argentine president defies Judge Griesa rulings and mocks 'selective default'

An impeccable Cristina Fernandez displaying her discursive aggressiveness and fine irony

President Cristina Fernández said on Thursday she will not “sign an agreement” that compromises Argentina's future, while blasting “vulture funds” for wanting to “collect Griesa's usurious sentence”, following the Wednesday failure of negotiations between the country and holdouts.

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 - 07:29 UTC

US imposes travel restriction on a number of Venezuelan officials

The US spokesperson said the restrictions were in response to “arbitrary detentions and excessive use of force” by Venezuelan officials

The United States is imposing travel restrictions on a number of Venezuelan officials. Washington did not specify how many people would be affected, but said those “who have been responsible for or complicit in human rights abuses” would not be “welcome” in the US.

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