MercoPress. South Atlantic News Agency
Argentina saved from a ‘technical default’; court case continues February 27
A US appeals court on Wednesday granted an emergency stay order that gives Argentina more time to argue against making a 1.33 billion dollars payment to investors who rejected two debt restructurings in the nation's 2002 sovereign debt default. Read full article
Comments
Disclaimer & comment rulesThe turn of the tide is beginning =) Viva ristina!
Nov 29th, 2012 - 12:55 am - Link - Report abuse 0I think Argentina should teach this pirates and vultures a lesson and keep crooks from ever trying anything of this sort again.
Nov 29th, 2012 - 12:55 am - Link - Report abuse 0http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
1 British_Kirchnerist (#), 2 Pirat-Hunter (#), 3 ProRG_American ....where are the rest of the forum participants? If things had gone the other way, this string would be 200+ comments long by now. Oh I know, it's sleepy time in London. What a wake up call it will be.
Nov 29th, 2012 - 01:14 am - Link - Report abuse 0Things seem to be going your way Malvinenses.
Next news soon...“Fragata Libertad” back home without pay a single penny to vultures. just wait.
Nov 29th, 2012 - 01:23 am - Link - Report abuse 0well done Argentina
Razor's edge, huh?
Nov 29th, 2012 - 01:34 am - Link - Report abuse 0it's just a delay don't get to comfortable-never known such a disliked country who just can not see the error of its ways-Creditors ,IMF , WTO the list goes on.
Nov 29th, 2012 - 01:41 am - Link - Report abuse 0You need to get rid of the botox queen before any remaing hope is lost
ARGENTINA ALWAYS THE VICTIM.
So I guess the America judiciary that was irrational, corrupt and in Singer's pocket, is now a reasonable system of rules and laws because they “temporarily” stayed a lower court's remedy.
Nov 29th, 2012 - 01:47 am - Link - Report abuse 0Wonder why three months? That's seems a lengthy amount of time.
Nov 29th, 2012 - 01:48 am - Link - Report abuse 0Vamos Argentina The vulchers will just have to go hungry and their cheerleaders from the islands will just have to go back to inbreeding.
Nov 29th, 2012 - 02:04 am - Link - Report abuse 0@1-@4 whats with all the excitement? did you pay your debts on time?
Nov 29th, 2012 - 02:25 am - Link - Report abuse 0oh wait your default has been put off til feb 2013, still cannot escape it eh?
i guess when your on death row a few more months would be most welcome.
enjoy the “stay” of execution over the christmas period, i suppose it wouldnt be the christian thing to put argentina out into the streets over the festive holidays,and I think i can guess what argentines will be praying for from santa this year. HO HO HO! :)))
The gov says they're a rich country, (F1 racetracks, stealing Rock In Rio away from Rio). If Oprah has $1B banked in a hidden jacuzzi then they could have covered 1 micropayment to treasuries holders, right?
Nov 29th, 2012 - 02:30 am - Link - Report abuse 0# 10 .......UK will need Harry Potter magic for scape of this.....
Nov 29th, 2012 - 02:36 am - Link - Report abuse 0http://www.debtbombshell.com/
HO HO HO HO
:))))
@04 so far
Nov 29th, 2012 - 03:24 am - Link - Report abuse 0“Next news soon...“Fragata Libertad” back home without pay a single penny to vultures. just wait.”
To paraphrase SpinalTap, “ it's a fine line between genius and stupid”
:-D
In the last few hours
Nov 29th, 2012 - 05:33 am - Link - Report abuse 0Argentina 2 Pirates 0
http://www.youtube.com/watch?v=RKWMfK1XcFk
LOl hey argentines, the only reason the judgement was stayed is because the the other side also appealed the judgement due to them not wanting the other investors to lose out on being paid what is owed to them in decemeber when payments are due.
Nov 29th, 2012 - 07:11 am - Link - Report abuse 0You quickly forget about this - http://en.mercopress.com/2012/11/27/investors-holding-restructured-argentine-bonds-also-appealed-judge-griesa-s-ruling - and then go on to claim the article above is a victory for argentina.
Lol no wonder you have no fair justice in argentina, as non of you seem to know how a fair justice system works. Just because the judgement has been stayed, it doesn't mean the judgement has be annuled, it just means they have put the judgement on hold till the appeal court hears the appeals and decides whether the judgement should be allowed or apply any admendments to it. The fact is you lost the case, and the appeal court will take that same view, but will also make admendments so that the other creditors that did agree to the restructuring, do not lose out as a result of the judgement, which they would have done if the judgement had not been stayed, as argentina would have been forced to default on its payments next month. Now argentina can pay in december the creditors as per expected, and will not default. But that doesn't mean they won't default after losing the appeal!
Its Christmas holiday time. The courts know they cannot wrap this up neatly in a week or two. They will all be away, holidaying in London or New York, perhaps a nice ski resort. Or they could go somewhere south to get warm and spend their money. US Virgin Islands spring to mind, or British Virgin Islands. Puerto Rico is an Island that is a US Territory. Perhaps closer to LATAM and Venezuela than USA, but still the Islanders like their affiliation with the US and want it to stay a Territory. US Americans will be bringing oodles of cash to spend there.
Nov 29th, 2012 - 07:38 am - Link - Report abuse 0After Xmas they will be refreshed and relaxed enough to pursue the case thoroughly and dispense with Argentina's spurious claims of victimisation. Maybe some nice loot will roll in.
CFK will have all Christmas to fret over this, and her people will start losing their patience.
this is great news, looks like Argentina won't default, this is definitely not just a delay, this is a complete victory over the creditors, honestly. Time for the champagne, no doubt about it, pats on the back all round, well earned.
Nov 29th, 2012 - 08:04 am - Link - Report abuse 0it's completely fine to lend money to Argentina now....
@17 Lol yeah right surfer, complete victory you say, you won't be saying that when the appeal court uphold the judgement in febuary with admendments demanding all creditors be paid, both the hold outs and the ones that agreed to the restructured bonds!
Nov 29th, 2012 - 09:12 am - Link - Report abuse 0Surprise surprise - it's been kicked down the road again.
Nov 29th, 2012 - 09:28 am - Link - Report abuse 0What now? seems the us-government wants Griesa to quit until february 13.
Nov 29th, 2012 - 09:36 am - Link - Report abuse 0COWARDS! they are nothing better than the arg crooks. ok, februar 13 is not 10 years but the sign of the us-cowardice is a catastrophe. it is like with our german government and judiciary.
i bet that also the IMF will postpone again the presentation of a true arg statistic which should be done on dec. 15. This year!
by the way arg posters are chest pumping it sounds as if they have won something, dont they realize they still have to face default in 2 months time,its typical argentines cant they think that far ahead, or as i suspect what they see as a shred of good news has to be trumpeted from the rooftops as they have little else to be chirpy about, bless.
Nov 29th, 2012 - 12:35 pm - Link - Report abuse 0If arg posters think winning a delay on defaulting is a victory, then their aspirations are as low as their countrys investment rating and Crustinas popularity, and remain blind to the fact that they owe money and will one way or another pay up, lets face it how much has argentina lost through investment being scared away? still think it was a victory? I call it a reprieve.
yet the default looms and they still call it a victory !! however i cant see them pots and pans being put away just yet.
The crucial question is whether or not the CFK government will use this time to seek a solution to the problem or immediately jump on other “crises” until the deadline expires. The longer that this issue plays out the closer it will get to the next Argentine electoral campaign. It will be interesting to see if the several Justicialist (Peronist) governors who seeking the presidency will break with Cristina's position and argue that Argentina needs to mend fences and return to the world stage. Cordoba governor De la Sota is already making such rumblings.
Nov 29th, 2012 - 12:39 pm - Link - Report abuse 0In the last few hours
Nov 29th, 2012 - 12:41 pm - Link - Report abuse 0Argentina 2 Pirates
the transformation is complete
Argentina is probably going to default soon without the holdout issue. Defaulting because of the holdouts gives CFK an excuse, she'll need to look for another scapegoat otherwise.
Nov 29th, 2012 - 01:08 pm - Link - Report abuse 0Just delayed the day of reckoning.
Nov 29th, 2012 - 01:27 pm - Link - Report abuse 0But the day will come early in the New Year.
@14 .... In the last few months Argentina -145 Rational People 15
Nov 29th, 2012 - 01:55 pm - Link - Report abuse 0Remember that there are many, many Argentinian 'vultures' who have accepted the '30 cents on the $' 're-structuring', and many also who are holding out for full dollar repayment (with the agreed interest).
Nov 29th, 2012 - 01:57 pm - Link - Report abuse 0I guess paying them back in pesos will naturally 'restructure' matters for these Argentinians, and the longer the government delays the paying, the more 'restructuring' happens - at the rate of 25% p.a., or 2% decline per month.
@22
Nov 29th, 2012 - 02:25 pm - Link - Report abuse 0Interesting points; what will CFK do during this three month period,..no doubt make some big political hay about vulture funds,etc. Also, Cordoba governor De la Sota is definitely burning bridges with the government. I think people here in Argentina are confused about CFK. She is a marxist, as are her policies, though pretends to be peronist.
They are just delaying the inevitable. What I don't understand is the term “vulture funds”.
Nov 29th, 2012 - 02:36 pm - Link - Report abuse 0Maybe I should criticize people I owe money to, and say that I'm morally opposed to paying them back unless I can screw them over.
@1 If I got a lobotomy and sniffed paint thinner, would I be able to share the same views as you?
postponed till after Xmas eh?
Nov 29th, 2012 - 03:21 pm - Link - Report abuse 0boring....
28 ptolemy
Nov 29th, 2012 - 04:16 pm - Link - Report abuse 0I'm not convinced she follows any particular dogma. She seems to be a totalitarian that reacts off the cuff to events.
#22 I agree this 3 month reprieve is definitely crucial for what action she takes. Many wanted to see the hammer drop now and reasonable so, but it is not unusual to have a stay granted during an appeal. However it is another bad decision is Argentina interprets this as a vistory. If she was smart she would just plan on paying them, or start talking to the holdouts. I don't see the appellate court setting a precedent in contract law that when a debtor cannot pay it's bill's that the creditor must take a reduction of the debt or mit is no longer valid. That is what the outcxome will be and I do not see that happening.
Nov 29th, 2012 - 04:20 pm - Link - Report abuse 028 ptolemy (#)
Nov 29th, 2012 - 04:24 pm - Link - Report abuse 0Nov 29th, 2012 - 02:25 pm
Being a marxist and a peronist are not mutually incompatible. After all we know that peronism is not an ideology, it is an operating system which quite happily accepts the ultra left and the ultra right as input.
Remember the 1970's, the ERP and Montoneros and the AAA all coexisting under the peronist umbrella!!!!
CFK is neither peronist nor marxist, she is “cristinista”, looking out for number one, and when she and her evil brood consider that they've milked Argentina for all they can, they will slip away to enjoy their ill gotten gains!!!!!!
que... IMF red card just for the mix :)))
Nov 29th, 2012 - 04:50 pm - Link - Report abuse 0Seems all the retards work for IMF now, maybe they don't know how to read .
Nov 29th, 2012 - 05:00 pm - Link - Report abuse 0http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
The biggest problem that CFK and Argentina have is that they react to everything with an emotional knee-jerk reaction based on their misconceived belief that the whole world is against them.
Nov 29th, 2012 - 05:17 pm - Link - Report abuse 0To them it is inconceivable that they might be wrong in any action they take.
They complain that the US, UK, the IMF, Ghana and the rest of the worlds actions and rulings are damaging Argentina without realizing they, as the leaders, are the ones who are responsible for the mess they have got themselves into.
Cristina has said - there is God then there is me.
@36 Part of Peron's indoctrination of the masses was to foster a belief that the world was against Argentina. It was a way of uniting a very disparate and bickering country. The nationalism was designed to stop the different regions from fighting amongst themselves. Interestingly, the old grudges are still there simmering just below the surface. CFKC must realise this unrest acutely and is ratcheting up 'the whole world is against us' to try to keep the country united. She must have one eye on Spain where regions want to break away from central government.
Nov 29th, 2012 - 06:00 pm - Link - Report abuse 0The best result for the bondholders, the worst result for Argentina!
Nov 29th, 2012 - 06:12 pm - Link - Report abuse 0some agents don't qualify to post in merco-press
Nov 29th, 2012 - 06:14 pm - Link - Report abuse 0@39
Nov 29th, 2012 - 06:16 pm - Link - Report abuse 0good night sussie
Comment removed by the editor.
Nov 29th, 2012 - 06:38 pm - Link - Report abuse 0@41
Nov 29th, 2012 - 06:40 pm - Link - Report abuse 0good night sussie
#36 I am really impressed that she put God in front of her. However you are so correct in that nothing is a deliberate, thought out action. It is always off the cuff, spur of the moment. Her rants are all based in rage and anger and that just does not export well to countries outside her own. It obviously did not go well in Griesa's court. She is lucky she was able to close her mouth during the pleading for a stay.
Nov 29th, 2012 - 06:40 pm - Link - Report abuse 0Actually I think the inference was more of a case that she was better equipped.
Nov 29th, 2012 - 06:49 pm - Link - Report abuse 0It doesn't matter, the hammer will still fall. The ship WILL sink, it's not a question of “If” anymore, just of “when”.
Nov 29th, 2012 - 08:09 pm - Link - Report abuse 0KFC / Ol' Turkey Neck / TMBOA The Harpy will open her mouth again, at the wrong time and the merry-go-around will start again.
I love that the Argentine posters think that they have won. They are too stupid to realise that this is just a stay of execution......
The gun is still loaded and the finger has still got first pressure on the trigger. It's not been pulled all the way....YET........................... Clowns.
# 45
Nov 29th, 2012 - 08:19 pm - Link - Report abuse 0Relax Rambo.....everything will be all right.
:-)
In the last few hours
Nov 29th, 2012 - 08:28 pm - Link - Report abuse 0Argentina 2 Pirates 0
And the brit 5***
@31
Nov 29th, 2012 - 08:58 pm - Link - Report abuse 0@33
“... historically been characterized by state ownership of productive resources in a planned economy and sweeping campaigns of economic restructuring such as nationalization of industry and land reform,..” Ring any bells? Actually, this is part of quote from the subject of communism. Some say Argentina follows the role of Venezula. If you take a walk on Entre Rios (Buenos Aires,) to the communist headquaters, take a look up at the head of the stairs. You'll see a painting of Chavez. I still think CFK is a Marxist.
I dunno about a marxist - but she is a dead duck (or a sitting one at least):
Nov 30th, 2012 - 02:38 pm - Link - Report abuse 0http://www.buenosairesherald.com/article/118087/cfk-takes-on-the-wrong-judge
I see the land reform has happened that gated communities must ceed as much 33% .....what a thievery
Nov 30th, 2012 - 03:03 pm - Link - Report abuse 0Cristina isn't a doctrinaire Marxist, but she's definately much better politically than you'd expect from a “Peronist”, after the experince of Isobel, Menem etc and with the threat of Scioli bringing that back..,
Nov 30th, 2012 - 10:14 pm - Link - Report abuse 0I loved seeing David Cameron confront Hitler Cristina at G20 and I quote
Dec 01st, 2012 - 01:10 am - Link - Report abuse 0”Her lip quivered as she muttered something in Spanish as Cameron gave it to her (verbely) then walked away”.
WONDERFUL
She is a submissive when it comes right down to it.....Nestor was her boss
Dec 01st, 2012 - 01:18 am - Link - Report abuse 0Sheeds to do the world a favour and go join Nestor, sooner the better
Dec 01st, 2012 - 02:22 am - Link - Report abuse 0In the words of the great musical artist Smokey Robinson.......“I second that emotion”
Dec 01st, 2012 - 04:23 pm - Link - Report abuse 0@52 Andy
Dec 02nd, 2012 - 07:18 am - Link - Report abuse 0Please post a link Andy - O would love to hear more on that.
LOL
Any YouTube links??
This is the only link that gives an idea,what gets me The botox bird refused a letter from the Falkland Islanders in New York then complains when David Cameron does the same to her,this woman (ragime) just do not get it do they.
Dec 02nd, 2012 - 01:37 pm - Link - Report abuse 0@57 No, she really doesn't get it. That's why she's such an accomplished lawyer.
Dec 02nd, 2012 - 10:11 pm - Link - Report abuse 0... wait a minute.
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