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Montevideo, November 28th 2022 - 08:47 UTC



US remembers Argentina debts must be honoured and suspends trade benefits

Tuesday, March 27th 2012 - 03:21 UTC
Full article 25 comments

Buenos Aires released a statement on Monday “regretting” US President Barack Obama's decision to suspend Argentina from the US Generalized System of Preferences program, which waives import duties on thousands of goods from developing countries. Read full article


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  • Teaboy2

    ”The Argentine government says paying the fines demanded by US investors is ”unconstitutional“ and recalled that “the US did not accept a settlement and insisted on a system contrary to legal scheme in effect in Argentina.”

    So respecting international law and repaing debts goes againts argentine law and constitution. No woner they think international law doesn't apply to the, - They have a constitution they made up that says so LMAO Idiots.

    Mar 27th, 2012 - 03:52 am - Link - Report abuse 0
  • brit abroad

    Buenos Aires defaulted on more than 90 billion dollars of government bonds, the largest sovereign debt default in history.

    great job rgland!!! keep up the good work!

    Mar 27th, 2012 - 04:04 am - Link - Report abuse 0
  • Beef

    Down with Argie pirates, give back what you have stolen. AAAAAAARRRRRRGGGGG.

    Mar 27th, 2012 - 05:44 am - Link - Report abuse 0
  • Xect

    Where are all of the Argentine posters on this thread then?

    Teaboy - You should know by now international law and the ICJ only apply to Argentina when the rulings go in their favour, when they do not they are illegal, without justification or unconstitutional.

    Its no different than when some Argentine people/government decide the principle of self-determination doesn't apply to the Falkland Islands when international law says it always applies.

    It's brilliant selective application of any and every law, they can't go wrong! (well except when foreign countries punish them for not respecting international law).

    Mar 27th, 2012 - 05:45 am - Link - Report abuse 0
  • Doveoverdover

    Fast forward to 2013
    ”The World Bank's International Centre for the Settlement of Investment Disputes (ICSID) ordered Argentina in May 2012 to pay various companies involved in oil extraction in Falklands waters 1330.2 million dollars, plus interest, for actions it took that damaged the British, US, Australian and Canadian companies' investments.”

    Mar 27th, 2012 - 07:17 am - Link - Report abuse 0
  • GreekYoghurt

    Obviously Banana republic is Obviously Banana.

    Mar 27th, 2012 - 08:39 am - Link - Report abuse 0
  • British_Kirchnerist

    So in your view foreign spivs and gamblers should be compensated for wrecking the Argentine economy, but my Queen should be penalised for trying to make it work for the people?!

    Mar 27th, 2012 - 09:46 am - Link - Report abuse 0
  • GreekYoghurt

    @7 I think your Queen is by definition a spiv. Spivs were amoral opportunists who made money during times of economic austerity in times of war. KFC is an amoral opportunist who made her money during times of economic austerity in office. No difference there then

    ... and that's without talking about all the money that's going missing and new 'maximo' hotels being built.

    Mar 27th, 2012 - 10:23 am - Link - Report abuse 0
  • Teaboy2

    @7 - Err BK your forgetting something, it was argentina that issued all those bonds in order to receive foreign investors money in to their coffers to support the countries running costs. The investors that bought the bonds did so as an investment expecting a return on their investment when the bonds matured. It was argentina that did not keep cash aside each year to cover the costs of the bond repayments to investers when the bonds became mature and the investers were due repayment for their intial investment. Its sloppy cash spending by argentina, and their failure to manage their spending so that they would be in a position to repay the investers that led to argentina defaulting. Its also evidence that they never intended to repay the investors right from the start. The investors had no say in the running of argentina or argentinas economy, they were basically silent investors.

    Mar 27th, 2012 - 11:47 am - Link - Report abuse 0
  • Welsh Wizard

    7 British_Kirchnerist No, that isn't what is being siad at all. You registered this debt with tehSEc, therefore you have to abide by thise terms. You can't have your cake and eat it. If you don't like it, go back to the lawyers who gave the legal opinion at signing and sue them. I doubt that this wuill work though as I expect that they outlined perfectly the situation with regards to the conflict of laws.

    Mar 27th, 2012 - 12:07 pm - Link - Report abuse 0
  • yankeeboy

    This is just the beginning, the next steps will be ARG getting kicked out of all Int'l banking institutions. The USA doesn't have the majority ownership in IMF, IDB, WB, G20 but we can and will make their lives more difficult day by day until they come into line.

    Mar 27th, 2012 - 12:09 pm - Link - Report abuse 0
  • GreekYoghurt

    @11 We can but hope.

    They just turn all these meetings into some long monologue on their overt expansionist policies and salivating over ownership over the whole of Antarctic and South Atlantic regions. I'm surprised they're allowed to attend.

    Mar 27th, 2012 - 12:32 pm - Link - Report abuse 0
  • tobias

    [takes off noise-cancelling headphones]

    Ok, we remember.


    *Completely ignore EU/USA/China/Latin America and their demands mode: ON (again)*

    Mar 27th, 2012 - 01:46 pm - Link - Report abuse 0
  • GreekYoghurt

    @13 Kind of ironic that it's Argentina demanding the falklands, through its constitution. Not EU, USA, China or Latin America. Those folks are just deciding they don't want to trade with you.

    Mar 27th, 2012 - 02:45 pm - Link - Report abuse 0
  • DJ56

    Brewing trade wars with the USA, Britain and Spain .... seriously stupid policies.

    Mar 27th, 2012 - 03:08 pm - Link - Report abuse 0
  • Brit Bob

    Quote from CFK:“ We can't even manage to get one of our lemons to enter the US market.”

    What do you expect CFK if you do not pay your dues?


    Mar 27th, 2012 - 04:04 pm - Link - Report abuse 0
  • jerry

    In the past she sent the largest lemon ever from Argentina to the United States - he is called “Timerman”.

    Mar 27th, 2012 - 04:25 pm - Link - Report abuse 0
  • yankeeboy

    Ignore the richest most powerful country in the world. Good luck with that!
    I am pretty sure this is all still payback for Timmerman boarding our military jet. More to come and should be fun to watch.
    I wonder if CFK will be forced to flee the country sometime in the winter when the nat gas runs out? She probably has a pretty nice place in Cuba or Venezuela already to go.

    Mar 27th, 2012 - 05:50 pm - Link - Report abuse 0
  • briton

    America should say no,
    nothing untill you pay your debts.

    and this should be repeated at the VI Summit of the Americas

    Mar 27th, 2012 - 07:06 pm - Link - Report abuse 0
  • GreekYoghurt

    @18 Surely when the cold winter comes, Maximo will help them out with a stay in one of his brand new Maximo Hotels that he found the money to build while his mother was in power and Plummet Airlines got no new planes.

    Maybe he'll open the hotel doors to help the poor cold people?

    Mar 27th, 2012 - 07:33 pm - Link - Report abuse 0
  • Truth_Telling_Troll

    Cold winter? Ever heard of Puerto Iguazu, Posadas, Formosa, Salta, Termas del Rio Hondo? Nice and sunny winters there away from the dreary humid chill of BA in June.


    I thought Norway was the richest country in the world. ;)

    Have fun watching KFC implode by June,July (that's your prediction right)... I'll have fun too watching the toasty social/racial summer coming to the USA.

    All I can say is “Trayvoooon”... Blacks vs Whites vs American Hispanics... this is a first (with black and white supremacists groups getting in the mix now). I think it may go off by May.

    Mar 27th, 2012 - 10:05 pm - Link - Report abuse 0
  • yankeeboy

    21. The majority of the population lives in BA and it is already starting to get cold. I hope this winter is as hot as the summer it will be fun to watch especially since your gas bill went up 500%. Is that why you are so bitter?

    Race riots...yeah sure. You have never been here have you? Did the USA deny your visa? Are you jealous?

    Mar 27th, 2012 - 11:45 pm - Link - Report abuse 0
  • Stefan

    Ah, such good news lately. Obama is basically throwing himself out of the White House due to his recent accidentally taped discussion with Dmitri Medvedev in which he was selling the whole country out, but while he's going, he's cutting the olive branch to the banana republic of Argentina as well! These are good times

    Mar 28th, 2012 - 04:25 am - Link - Report abuse 0
  • yankeeboy

    21. They have already started cutting nat gas to the industries to supply people's homes in BA. YESTERDAY!! It's not even winter yet! Will the supply be completely out by June? Brr

    And the U$reached $5.25 in the leak market yesterday....people are just starting to scramble for U$ because they know a MASSIVE devaluation is on its way. Care to guess if it will be higher that $10/1? I'm hearing as much as $16/1 but I think at that point inflation will be so high that it will all collapse upon itself shortly thereafter.

    I think the solution is to restrict more imports, rail against the UK and USA and it will fix everything. Yeah that will work just fine.

    Mar 28th, 2012 - 02:07 pm - Link - Report abuse 0
  • Truth_Telling_Troll

    - American blacks do not trust the police, guilty until proven innocent they say
    - American whites do not tust the police either, set up civilian watches because of rising crime
    - American hispanics do not trust the police either, mainly immigration profiling
    So no one trusts the corrupt police in the USA...


    Trayvon Marteen case.

    - Black Panthers Party 1 million bounty on suspect's head
    - Council of Conservative Citizens calling black community “self-killing monkeys”
    - Black Muslims threaten eye for an eye retaliation
    - White militias warn blacks against threatening “whites”
    - Brick thrown inside hispanic's home
    - Florida Police officials receive death threats
    - government takes over investigation due to local police incompetence
    - rallies all over the USA

    SO... you add all that to the upcomming election which no doubt will be painted on a referendum on a black person as president...

    Have fun in the heat of July with a racial murder involving three “races” and a racial election, plus the republicans fighting each other forcing them to the extreme right!

    I can't wait for the fireworks.

    Mar 28th, 2012 - 05:30 pm - Link - Report abuse 0

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