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Argentina “will not enter in default” and will honour all re-scheduled bonds

Tuesday, November 20th 2012 - 00:02 UTC
Full article 22 comments

“The only possibility” Argentina contemplates regarding its debt is “to honour all payments” of creditors that entered debt swaps after the sovereign default of 2001, said Economy minister Hernan Lorenzino who underlined that Argentina “cannot and will not enter in default”. Read full article


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  • Ayayay

    The U.S. exec branch can only file as a friend “amicus”, it's not in charge of legislative, but dumb people don't know that.

    Nov 20th, 2012 - 12:27 am - Link - Report abuse 0
  • ElaineB

    The holdouts are also creditors, though Argentina refuses to accept that plain fact. They should be grateful that 93% of creditors agreed to accept less rather than bleat about the 7% that didn't. Pay up.

    Nov 20th, 2012 - 12:49 am - Link - Report abuse 0
  • toooldtodieyoung

    so what.......??? Argentina want everyone to bow down and thank them for paying back the money that they owe?

    They have created an a big song and dance over something that they should have done anyway.

    Just shut up and pay the bill. This is getting so old up.

    Nov 20th, 2012 - 07:20 am - Link - Report abuse 0
  • Usurping Pirate

    Argentina “will not enter in default” and will honour all re-scheduled bonds .

    Is that a flying pig in the background ?

    Nov 20th, 2012 - 08:39 am - Link - Report abuse 0
  • Zaphod102

    Interesting artice in the Wall Street Journal “Argentina runs out of other people's money”

    Nov 20th, 2012 - 08:43 am - Link - Report abuse 0
  • Acchiappaladri

    The Ladroprogresista regime is cornered at least with respect to Argentine sovereign bonds : they are going on with their wishful thinking but this time no free way out of the mess they have created.

    Unless a miracle happens in New York courts (plural!), the stay of Judge Griesa's PARI PASSU injunctions will be dissolved in a matter of months, may be (hopefully) weeks, and then they will have to choose and pay a toll:

    - new default on exchange bonds (that is: Lorenzino's declarations are lies);
    - pay up some holdouts (that is: Lorenzino's declarations are lies ... welcome lies in this case);
    - not complying with US court's PARI PASSU injunction (that is: Argentina's affidavit is a lie)

    and multiple choices are allowed ;-)

    Of course Argentine people is free to let insane robbers rule their country, ignoring their international obligations, all of them ... eventually experimenting the pleasures of living in a novel South American Zimbawe.

    Sadly it looks like that patriottic, reasonable Argentines have little chances to change for better their government in the near future.

    Nov 20th, 2012 - 11:57 am - Link - Report abuse 0
  • yankeeboy

    I learned a long time ago, whenever an RG politician bleats on and on about something it ends up being exactly the opposite of whatever they are trying to convince people to believe.
    Also if these people want some respect they should cut and wash their hair, try to wear suits that fit and clean shoes. Rgs are always a mess.

    Nov 20th, 2012 - 01:00 pm - Link - Report abuse 0
  • LEPRecon

    Argentine government and honour is an oxymoron!

    Nov 20th, 2012 - 01:54 pm - Link - Report abuse 0
  • Welsh Wizard

    Surely there would be the standard mandatory prepayment of principal and interest on an event of illegality in the bond docs (i.e . if it becomes illegal to meet your obligations under the documents you shall mandatorily pre-pay)...

    Nov 20th, 2012 - 01:59 pm - Link - Report abuse 0
  • Conqueror

    I know that the word is longer, but shall we rename “argies” as “wrigglies”?

    Nov 20th, 2012 - 03:13 pm - Link - Report abuse 0
  • Captain Poppy

    What are those three biggest lies?

    1-the checks in the mail
    2-I love you
    3-I won'

    and now for a new forth
    4-Argentina will not default!

    Nov 20th, 2012 - 05:28 pm - Link - Report abuse 0
  • ChrisR

    Closer and closer comes the default!

    Nov 20th, 2012 - 05:45 pm - Link - Report abuse 0
  • Conqueror

    @14 Reported!

    Nov 20th, 2012 - 06:49 pm - Link - Report abuse 0
  • Ayayay

    @14 deported! X)

    Nov 20th, 2012 - 07:23 pm - Link - Report abuse 0
  • ElaineB

    I see CFKC has been bleating on about Argentina being 'forced' into default by dark forces. Why doesn't she out-trick them by just paying up?

    Nov 20th, 2012 - 09:11 pm - Link - Report abuse 0
  • ProRG_American

    Nov 20th, 2012 - 09:56 pm - Link - Report abuse 0
  • Captain Poppy

    Nov 20th, 2012 - 10:09 pm - Link - Report abuse 0
  • Ayayay

    Btw, the reason why the U.S.- gov- filed amicus is because this ruling is more in favor of individuals, not gov.
    The world 'community standard' is trending towards creased individual rights.

    Nov 21st, 2012 - 01:29 am - Link - Report abuse 0
  • Captain Poppy

    I think this showdown will prove that Argentina is truly flat broke. Can't pay 10 million dollar and nod paying anyone off, just a bond to relase it. Can't fix her naval corvette in South Africa.....but boy, damn straight the botox flows through the trade routes!!

    Nov 23rd, 2012 - 08:10 pm - Link - Report abuse 0
  • British_Kirchnerist

    #15 Wonder what gave her that idea. Oh maybe its the fact that these dark foces and their supporters like yankeeboy on here are gleeful about Argentina being forced by Griesa to default...

    Nov 24th, 2012 - 12:49 am - Link - Report abuse 0
  • ChrisR

    @20 BSK

    Yes, and the sooner the better.

    Get rid of TMBOA and all the crooks with a new government, mend the fences with the real world and get back on another crest for the country.

    It will never get better with this bunch of crooks in power.

    Nov 24th, 2012 - 11:03 am - Link - Report abuse 0
  • Captain Poppy

    No one forced asslips to do anything stupid state leader though they can get away and bail out on their debts without any impact

    Nov 24th, 2012 - 02:19 pm - Link - Report abuse 0

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