MercoPress, en Español

Montevideo, December 1st 2022 - 12:54 UTC

 

 

US court ruling against Argentina threatens Greek Collective Action Clause

Thursday, December 13th 2012 - 07:04 UTC
Full article 8 comments

A legal clause that is the key to smoothing future debt restructurings could be undermined by a US court ruling that Argentina must pay creditors holding its defaulted debt. Read full article

Comments

Disclaimer & comment rules
  • Pirat-Hunter

    Why are we still talking about this, I guess the vultures can't take no for an answer sounds like they need be reminded that what IMF considers a loan we Argentines have long accepted it as theft. Maybe USA and IMF need to be reminded that you can fool some people sometimes but you can't full everyone all the time. We don't pay crooks and if we pay them we will have to do it their way. With a scam. I don't think Argentina should be wasting time with the vultures, I think Argentina should strengthen our national bank and tell IMF and USA to go to hell.
    http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/

    Dec 13th, 2012 - 02:55 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    As I predicted by the Italians, Spanish, Germans, British undermining Argentina through the vultures, they are in fact undermining themselves and possibly leading to their economic collapse by the collapse of the EU (which whether the Brits like it or not to hear, would cause at the very least at short term DEPRESSION through the total collapse in trade and devaluation of national currencies post-Euro).

    And as I also predicted, in the USA you now have a civil war between the 93% of those bondholders that accepted the terms, and the vultures. If you all remember I also stated this scenario, that any “technical default” by Argentina that sees the settled bonds not being payed would be blamed on Singer and not on Argentina, causing a major mess in the US financial jurisprudence.

    As I predicted, mess with Argentina and it will severely backfire.

    Dec 13th, 2012 - 03:09 pm - Link - Report abuse 0
  • Anbar

    “As I predicted, mess with Argentina and it will severely backfire.”

    best one liner ever!

    How'd that go for you in '82?

    Dec 13th, 2012 - 06:35 pm - Link - Report abuse 0
  • Conqueror

    @1 Many years of court cases ahead. Also many years of “state” assets being “inconveniently” seized. How's the old Libertad and Espora getting on? Woodworm? Rot? Rust? Bits dropping off? Also many years of WTO disputes. And ICSID cases. Poor little “victim” argieland.........NOT. REMEMBER, everyone must contact all cruise companies at every opportunity to request that all argie ports are removed from cruise itineraries. If they won't pay their debts, make it difficult for them to make money.
    @2 The usual propaganda. No signs of “economic collapse” due to argieland in Britain. Spain? Who cares? Another cowardly, greasy, slimy enemy. France? Definitely don't care. Nasty habits. Frogs' legs. Oozy cheese. Incompetent, uneconomic attempts at farming. Germans. Ve vant no Forze Reich. The Germans can spend their money supporting the southern European wasters. And, just look, guess where the argie wasters came from. Ve are not european, they zay. Aside from being physically indistinguishable from Spaniards and Italians. And speaking, guess what, a european language. Perhaps some argie no-nothing could point out the vote and legislation by which argieland decided it would speak Spanish instead of a native language.

    As for “backfiring”, who hates argieland? The crooks, the crims, the debtors, the genocides, the liars, the thieves. A “place” well worth hating because of the scum that inhabit it.

    And don't forget to do your bit. Contact all cruise companies that go into the South Atlantic. Make them aware of how they are supporting colonialist, imperialist, tyrannical dictators. Persuade them to drop all argie ports from their itineraries. Uruguay, Falklands, Chile and then onwards. Next step will be to interfere with ALL tourism. And the new advertising is: “Travel to argieland. Get mugged, beaten, robbed, murdered. Don't miss out. You too can die in argieland!” For those travelling by air: “As your plane turns to land, open the door and jump. Save La Campora trouble.”

    Dec 13th, 2012 - 06:54 pm - Link - Report abuse 0
  • ChrisR

    But none of the haircut brigade took the hit themselves; they were big corporations or banks and their customers or shareholder took the hit either directly or via paying shareholders less. So you could argue, that having re-established their finances thay are no longer owed the 70%.

    The little people who could not afford a 70% cut on the value of their money are part of the holdouts and I hope that they do get all of their money in full and that the others just get their 30%.

    It doesn’t really matter if future restructuring is going to be impossible: GOOD. No country should KNOWINGLY deprive anybody of their money as AG did. Uruguay did not, and they were a very tiny country then and are not that much bigger now.

    Argentina may well find that their wishes of isolationism are going to be fulfilled after the IMF removes them from the register.

    Get ready to lose virtually ALL your foreign investment presently making cars, etc. They won’t be able to get insured loans thus effectively closing them down.

    But TMBOA, The Chief Crackhead (cream buns a speciality) and Thin (ugly) Girl NYC’s finest will be alright, so that’s OK then.

    Dec 13th, 2012 - 07:26 pm - Link - Report abuse 0
  • Brit Bob

    The yanks are coming and they will catch up with Argentina: www.atfa.org/
    And, let's not forget
    Default Day - 15th December
    Red Card Day - 17th December

    Dec 13th, 2012 - 08:01 pm - Link - Report abuse 0
  • Pirat-Hunter

    CFK is the best president Argentina had in the last 40 years, and to top it all of she is loved by many Argentine myself included, if people don't like her rather then cry and cry everyday here why not vote against her next elections, Simple! lol good luck with that, keep us posted on how productive your life is. I wonder if in 2001 the bankers give the Argentines their money back.

    Dec 13th, 2012 - 11:43 pm - Link - Report abuse 0
  • British_Kirchnerist

    The irony is this pro-finance ruling would even be bad for finace, if generalised...

    Dec 22nd, 2012 - 11:02 pm - Link - Report abuse 0

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!