MercoPress. South Atlantic News Agency
Argentina offers to pay ‘holdouts’ but on same terms as those who accepted debt restructuring
President Cristina Fernández defended on Friday her debt reduction policies and blasted the so-called vulture funds and multilateral organizations but also admitted Argentina was willing to pay holdouts on the same conditions that those who accepted the 2005 and 2010 debt restructuring. Read full article
Comments
Disclaimer & comment rulesI wonder how many of the 93% would actually describe themselves as “those who believed in our country”
Mar 02nd, 2013 - 08:21 am - Link - Report abuse 0I'm guessing none of them.
I think the appropriate description would be, “Victims!”
Mar 02nd, 2013 - 08:41 am - Link - Report abuse 0If you let us keep the money we borrowed without paying it back we promise we won't borrow any more.
Mar 02nd, 2013 - 09:36 am - Link - Report abuse 0Not one dollar. Sound familiar anyone? Another lie?
Mar 02nd, 2013 - 10:58 am - Link - Report abuse 0Singer will no doubt say “oh, ok then”.
4 Orbit
Mar 02nd, 2013 - 11:24 am - Link - Report abuse 0The judge has already stated she is enforcing contracts not rewriting them so why should Singer accept anything less?
Until very recently TMBOA was shouting on TV 'not one dollar for the vultures', perhaps she realises at last that she is staring at the edge of a very high cliff and the country is on her shoulders.
She will not want to be remembered as the President who caused another massive default, though how she can pay the money is a bit of a mystery.
She'll just swipe all current dollar savings in Argentina. Just pass a law making $ illegal to save in and convert them to Pesos. Doubt she'll even bother to use reserves. Just choose an exchange rate she likes - ie one below black market rates and then just “print” it. There's already a clamp on new $ savings so there's nothing stopping her robbing the historical ones.
Mar 02nd, 2013 - 11:49 am - Link - Report abuse 0“Not one dollar!”
Mar 02nd, 2013 - 11:52 am - Link - Report abuse 0OK, well, perhaps a few then.
This woman is clearly unhinged. If she could break out of the sycophantic circle that surrounds her she's maybe realise that she is doesn't exist in the same reality as the rest of the world.
Mar 02nd, 2013 - 11:54 am - Link - Report abuse 0It's certainly an eye opener. I would imagine that generations of students of politics, will be studying this woman as an example of how it is not done! There is many a Thesis brewing on this one, not to mention books. My Parish councillors would do a better job than this lot and that is no exaggeration!
Mar 02nd, 2013 - 12:21 pm - Link - Report abuse 0Argentina,Take your medicine you thieves.......its the will of the world
Mar 02nd, 2013 - 12:38 pm - Link - Report abuse 0Take it or leave it...!!! Or is too dumb what I say...???
Mar 02nd, 2013 - 01:25 pm - Link - Report abuse 0Poor bipoler lady and courtesans, they don´t know that laws are respected in the most other countries around the world....
And, the evil is who don´t pay his debts, not the creditor who is asking for the money back....not the thieve after the judge...!!!
The amount to the holdout (so called vultures) is US $1.3 Bn.
Mar 02nd, 2013 - 03:45 pm - Link - Report abuse 0What's the big deal about that?
So when it all goes tits up and they are well and truly in it. Who wants to bet that their are not people who will actually give them money? Not me, sad fact that the world is full of f....ng idiot with more money than sense, who actually belive they will make a profit.
Mar 02nd, 2013 - 03:45 pm - Link - Report abuse 0Now, there's a new concept! anyone actually know of antone who in recent history has made a profit from investing in Argentina. Not meant to be a trick question, I am actualy interested to know, does such a thing actually exist?
This could get very interesting. According to the research I've done, there are a number of options if argieland doesn't pay up. (1) Any assets it has abroad could be seized. (2) Action could be taken to undermine/destroy its monetary sovereignty. (3) One or more countries could declare war. Somebody might be able to say whether argieland still has funds deposited with the IMF and/or the U.S. Federal Reserve. The info at the IMF website is at http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberKey1=30&date1key=2013-03-03 but what does that mean? Could the argies actually have the equivalent of about US$12 billion at the IMF? Somebody might also be able to comment on the figures at http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberKey1=30&date1key=2013-03-03 I find it difficult to believe that argieland got its debt down to US$124,300 million from US$126.466 billion.
Mar 02nd, 2013 - 03:57 pm - Link - Report abuse 0One presumes that undermining/destroying monetary sovereignty could include refusing to accept AR pesos for anything. Anything else?
I doubt whether the UN would sanction war. But it wouldn't be the first time that a war has taken place without UN approval. The argie attack on the Falkland Islands would be a good example.
But one thing seems clear. When argieland “restructured” its debt, it didn't negotiate. It just issued an ultimatum. It shouldn't be allowed to get away with that. Perhaps the 93% of creditors should do what argieland does frequently. Tear up the agreement. Then demand full payment!
I'm still on my world travel tour, in Malaysia now. Its been years, and I'm not approaching 2/3 of the world traveled.......and I still have yet to see a country as poorly managed as Argentina.
Mar 02nd, 2013 - 07:29 pm - Link - Report abuse 0edit: “It's been years, and I'm NOW* approaching 2/3 of the world traveled....” ^^
Mar 02nd, 2013 - 07:31 pm - Link - Report abuse 0CFK is getting more desperate by the day,
Mar 02nd, 2013 - 07:42 pm - Link - Report abuse 0As we get nearer and nearer to the Falklands referendum,
She will get even more desperate,
She looks over the ocean and sees all that wealth, and she wants it at any price,
She know her people want/demand this victory she has promised ,
And yet to come up with the goods,
And the only thing that stands in her way of stealing the wealth of others is the nasty brits on the Falklands,
Poor CFK
Out of the frying pan==into the fire .
mmm
.
My daughters have got a jar of coins they have collected from their school trips abroad. Anyone know where I can invest them?
Mar 02nd, 2013 - 07:52 pm - Link - Report abuse 0In Argentina's case, they should change the name from “default” to “refault”, cause they do it so often.
Mar 02nd, 2013 - 08:01 pm - Link - Report abuse 0whenever ck opens her mouth bullshit falls out.
Mar 02nd, 2013 - 08:39 pm - Link - Report abuse 0she always talks the same stories about poor people who die when she pays her debts. every normal human knows she tells lies. she also knows and her total gang, too.
the us judges, imf, banks, and each bndholder are so fed up with this mess, that they say: “shut up and pay, damned!”
Does she or Rgentines not realize that they are not really paying they debt, they are paying a same percent of what they stole.
Mar 02nd, 2013 - 08:53 pm - Link - Report abuse 0As for committing fraud, since when has that stopped a Peronist or Kirchner? Change the law with the super majority of the criminalist party the rules the Argentine fiefdom.
When she says ”we haven't asked for credit, what does she call going to the IDB?
I would love borrowing 200,000 for a house and decide to pay back 40,000 and pride myself on buying a home with no ones help.........deadbeat scumbags they are.
Argentina defaulted. What's the big deal. It happens sometimes. The truth is that buying bonds is a risky investment. It's not a sure thing. You can end up by losing your money. I don't understand what's the issue here. CFK doesn't care about the bondholders. They weren't forced to buy the debt. CFK didn't issue the debt in the first place. Sorry but that's how things works. 93% accepted Argentina's offer. They got something back. If you want to fight that's up to you but there's a 0,1% chance that CFK is going to pay you back in full. Why? Because she can and wants to screw the guys who bought Argentina's debt after the 2003 default.
Mar 02nd, 2013 - 09:39 pm - Link - Report abuse 0@16
Mar 02nd, 2013 - 09:48 pm - Link - Report abuse 0And your comment is what exactly?, please explain for us intellegencia
Unfortunatelly i wasn't wrong when i thought that i was going to find some cretin people posting such despisable comments in different articles about this question. This evident that the huge ignorance and mental mediocrity of those people, don't let them see how dangerous would be not just for arg., but for all the rest of the world too, in the present, and in the future, if a judgement forces arg. to pay the vultures in the same conditions of the 93%.
Mar 02nd, 2013 - 10:09 pm - Link - Report abuse 0If they can't realize about the delicated situation of many countries, especially in europe, and if the hate that many of them feel for us, or for c. f. k's policies, don't let them see that after that judgement, there won't be any other debt reestructuring for any country.
Sooner or later, many of those countries that are going through a deep crisis of their debts, will have to reestructurate them, otherwise, the crisis will continue, and there were will be much more people who will lose their jobs, including some of those cretins who want to see arg. in the bankarrupty again.
As i said before, it's necesary to have intellectual honesty, in order to discuss about something so complicated like politic, which is something that many of those people don't have.
Too use the argument that asslips kirchner did not issue the debt is irrelevant....Argentina issued the debt. While there is inherent risk in bonds, not to the level of stock. Nationals are the least of risk in debt instruments. But explaining what the big deal is pointless trying to explaining just what it means to an Argentine. However Argentina is rapidly seeing just the it means to default.
Mar 02nd, 2013 - 11:16 pm - Link - Report abuse 0*Construction is down
*Industrial output is stale
*the is no DFI
*trade accounts are about to hit deficits
*unemployment is in double digits
*inflation is over 30% for 6 years running
*Price controls are in place in a feeble attempt to contain inflation causing shortages
*all major countries have over 60 trade complaints against Argentina
*Argentina can't borrow money
*Argentina has no U$ to import oil
*Argentina has teachers, farmers, border guards, truckers against Kirchner all across the country
*Now she is about to steal the Judiciary, next will be the eliminations of elections. Doesn't really matter anyway, they are a farce anyway.
Can it get worse in what it means to follow Kirchner?
I agree....any business that invests in Argentina is an idiot or a fool. I only feel sorrow for the Argentine's that see through her smoke and mirrors, which are thinly veiled.
The risk is there because the investor is paying a sizable premium over risk free securities. If you want a riskless investment buy US bonds.
Mar 03rd, 2013 - 12:01 am - Link - Report abuse 0And the fact is that after the default the economy has managed to grow so I believe the default was positive.
The economy couldn't handle all that debt so I think the deal that was accepted by 93% of the bondholders is the best they're gonna get. CFK is not going to improve the terms. Besides the markets don't care if the holdouts receive their money back or not. That is priced in and the fact is that as long as Argentina mantains a external surplus there's no need to use external funding. I believe the government may need to devalue to improve the external balance.
@22 Don't worry, that “doesn't care” attitude shows when they are PLEADING in the courts while sayimg they have no respect for the them.
Mar 03rd, 2013 - 12:07 am - Link - Report abuse 0I hope the Arg gov takes it's money of NY and puts it in pesos before midyear!
Argentina RIP !!!!!!!!!!!!!! Isolated and alone.....even in South America
Mar 03rd, 2013 - 01:00 am - Link - Report abuse 0Let me correct you.
Mar 03rd, 2013 - 01:03 am - Link - Report abuse 0Cheers Argentina for stooding up.
Sorry holdouts. You're not getting a cent.
@29
Mar 03rd, 2013 - 01:12 am - Link - Report abuse 0You will probably not receive a cent from the IMF. You numptie. TOODLEPIP
I don't think they can seize the SDR's.
Mar 03rd, 2013 - 01:18 am - Link - Report abuse 0Just my two cents.
The holdouts are burned.
@31
Mar 03rd, 2013 - 01:27 am - Link - Report abuse 0And where do you think your next non returnable loan is coming from?
TOODLEPIP you F******G numptie
Markets have short memory, trust me.
Mar 03rd, 2013 - 01:31 am - Link - Report abuse 0Of course whatever you say. We see Argentina is in such a fine state of disrepair. I've seen it....ugly all because no one will invest there
Mar 03rd, 2013 - 01:56 am - Link - Report abuse 0You can lie all you want. The truth will always hunt you.
Mar 03rd, 2013 - 01:59 am - Link - Report abuse 0@33
Mar 03rd, 2013 - 02:16 am - Link - Report abuse 0Who is going to trust you? I would sooner trust a monkey. TOODLEPIP
Dumb money managers I guess. Lol.
Mar 03rd, 2013 - 02:17 am - Link - Report abuse 0@37
Mar 03rd, 2013 - 02:40 am - Link - Report abuse 0most intelligent people learn by their mistakes, not so Argentinians.
Hypothetically, if you borrowed money would you not expect to be paid back the principal sum plus interest, if not , why would anybody lend you money?
Answer would be appreciated.
Argentina's decline started long ago.
Mar 03rd, 2013 - 02:40 am - Link - Report abuse 0http://www.businessweek.com/news/2011-10-26/argentina-s-foreign-investment-dropped-30-in-first-half-of-2011.html
38 - well, if a country defaults its debtload is reduced. So I thing thats good for future creditors.
Mar 03rd, 2013 - 02:43 am - Link - Report abuse 039 - you are the one in decline and I think I have established that.
I've been to Argentina dozens of times and they are nothing like you. But that you would not know
Mar 03rd, 2013 - 02:51 am - Link - Report abuse 0@40
Mar 03rd, 2013 - 03:08 am - Link - Report abuse 0Can you lend me U$d 3,000.000 and I will give you U$d 3,100,000 back , but decide not to pay you back the U$d 3,100,000 but pay you U$d 50,000 you would be happy with that. Thought not. Think again you muppet. TOODLEPIP
lol
Mar 03rd, 2013 - 03:12 am - Link - Report abuse 0Filthy, thieving, corrupt RG's
Mar 03rd, 2013 - 03:51 am - Link - Report abuse 029 Oblivious-eira
Mar 03rd, 2013 - 03:51 am - Link - Report abuse 0“Sorry holdouts. You're not getting a cent.”
lol, to make that comment on a story where the president herself is saying she's willing to pay, and the courts are ordering her to pay.........is just about as mentally retarded as is possibly conceivable.
Oblivious-eira musta been born during one of Argie's default periods, and was raised on dumpster diving food, would explain how toxic chemicals, bacteria, etc leeched into his food supply to taint the development of his brain.
#45 check out olibeira posts under the latest Chavez article. He or she is a loon!
Mar 03rd, 2013 - 06:23 am - Link - Report abuse 0Will the real olibeira reveal himself.
Mar 03rd, 2013 - 09:04 am - Link - Report abuse 0It is quite pathetic the way so many RG posters keep changing their screen names !!!!!!!
Argentina is a washed up racist xenophobic state. Argentina is finished
Mar 03rd, 2013 - 12:30 pm - Link - Report abuse 0Pursued in the courts, aircraft and ships subject to siezure abroad, public services failing. Corruption, Mafia, massive crime, cartoneras and villa miserias everywhere.
Tainted beef, chemical wine, mass unemployment, power cuts, railways in chaos.
Argentina finished.
I am sure olibeira was someone new.. Not as crazy as sussie, not as verbose as toby. They all seem to have an identified style.
Mar 03rd, 2013 - 01:56 pm - Link - Report abuse 0This is an interesting turn for Cfk from not a pesito to 30% and thats their first offer! Looks like she knows the end of the game is near.
Mar 03rd, 2013 - 02:31 pm - Link - Report abuse 0Arg is in a tough spot theres no U$ left i wouldnt be surprised if they do another forced peso dollar exchange just to get through this winter.
I wonder if the usa will allow a soy for lng trade with iran?
Ihear peso is 8.08/1 leak rate.
Not gonna be to much longer now
@40 - Agreed, either Toby is deliberately taking a different tact or its someone new. Sussie is too simple to be making those posts and he/she also has a very distinctive style of writing.
Mar 03rd, 2013 - 03:04 pm - Link - Report abuse 0Anyway back to the story, just another day and another embarrassing defeat for CFK and her government. All that nonsense about NEVER paying a dollar to holdouts seems to have disappeared as she's now saying she will pay them lol!
You've got to feel for the decent folk of Argentina suffering because ego's are destroying their country. I know some Argentinian's and I've heard wonderful stories about the past but now most are resigned to the fact their country, economy and respect on the world stage has been utterly destroyed by the current government.
It's interesting that the general population vote in leaders who seemingly make the same mistakes over and over again when this could be a country of brilliant prosperity and in fact it once was.
Maybe another default could trigger a change in the people to vote in modern, respectable and diplomatic leaders who could return the country back to health rather than feather their own pockets and ego's.
Xect my wife is Argetine and her family still lives there. They are so ashamed of how their country turned out. But I am not sure it will change short of a revolution. Juan Peron destroyed politics in Agentina, everyone is a Peronist.
Mar 03rd, 2013 - 03:11 pm - Link - Report abuse 0@22 Shut up, dumbass. We're going to MAKE you pay. And pay. And pay!
Mar 03rd, 2013 - 03:43 pm - Link - Report abuse 0@24 You do talk a load of crap. And let's face it, you don't even understand what you're saying. Where did you crib it from? But we don't want to see argieland in bankruptcy. We want to see it destroyed. A territory of starving, cannibalistic nomads. No trouble to anyone because you're too busy trying to survive. No industry. No agriculture. No exports. No imports. Maybe you'll kill each other off! No loss. And you wouldn't know what intellectual honesty is if it bit your balls off. Assuming you have any.
@29 Hope you're “totally” self-sufficient. But you're not. Just watch.
@31 Yes, they can!
@35 Argieland is probably the only territory in the world created for others to shit on. And we will!
@40 By the end of this year, argies will be dying from starvation!
@48 Better off destroyed. Right?
@51 I have to ask you: What percentage of those people do you think might be “decent”? I know there are some, “simon68” is an example. People I characterise as “Argentines” rather than argies. Argies are the scum of the planet. Let's think of some scum. Axel_arse,Dany Berger, Hepatitis, Islas M, Malverin0, Ollybolly, P_H, Sussieshit, TiT. Not a comprehensive list.
Quite frankly I don't think anyone can truly judge a group of people, be they Argentine, America or British by the posters of this block. Of course, people can, but it is baseless. For a true representation and a informed opinion, being in that country and more than once and more than 10 days gives the most informed opinion.
Mar 03rd, 2013 - 04:09 pm - Link - Report abuse 0Just one means opinion here.
Life is tough.
Mar 03rd, 2013 - 06:02 pm - Link - Report abuse 0The holdouts are not getting anything.
You are just a bunch of retarteds who understand jackshit about finance.
Argentina is growing. That's the fact.
You can keep whining because you won't get a cent.
Sorry, that's how things go.
Losers will always be losers.
Now, here is the list of losers and morons:
golfcronie
Captain Poppy
Conqueror
Xect
yankeeboy
CaptainSilver
agent999
You guys are done.
You can keep talking but the fact is that you have been defeated.
You may want it to happen but it's not going to.
Maybe its Sussie off the gear for a few days.
Mar 03rd, 2013 - 06:16 pm - Link - Report abuse 0Argentina is growing and the bondholders are not getting better than 30 cents on the dollar.
Mar 03rd, 2013 - 06:24 pm - Link - Report abuse 0I would take because otherwise they won't get a thing.
Well, they like to be kamikaze, that's their choice.
It will not end up good for them.
CFK is happy because those morons are really getting ready to be trapped.
No Joe as stupid as olibeira sounds, sussie always sounds desperate and deranged. Though there is a blend of the two personalities of toby and sussie, perhap sussie and toby are siblings and olibeira is a parent?
Mar 03rd, 2013 - 06:53 pm - Link - Report abuse 0Don’t you just love their confidence in the impossible?
Mar 03rd, 2013 - 07:18 pm - Link - Report abuse 0But at the end of the day,
CFK will have to put her money where her mouth is, and pay Argentines debts,
Still,
If they are as rich as some here think they are, then it is merely a formality is it not .
Still2
Where would we be without them .lol.
.
lol, first mentally-retarded-obliviouseira states holdouts will get NOTHING, now he says 30 cents on the dollar........he sounds like cristina, maybe their inbred siblings, would explain some things
Mar 03rd, 2013 - 07:38 pm - Link - Report abuse 0What is so funny is that the trolls do not understand we are not laughing at the holdouts getting 30 cents on the dollar, that we are laughing at kirchner, once again, contradicting herself from...“never, not one cents” to “we will pay the settled amount”. lol
Mar 03rd, 2013 - 07:39 pm - Link - Report abuse 0But oli is a finacial wizard, maybe he is Lorezino
Perhaps the flag of condor will save them.
Mar 03rd, 2013 - 07:43 pm - Link - Report abuse 0still,
borrow if you must,
pay back you will.
@61-62 Poppy and Briton
Mar 03rd, 2013 - 08:30 pm - Link - Report abuse 0How much has Argentina repaid the 93% so far?
Anything?
Oli-troll is insisting they “are being paid”, but it sounds like nothing has actually happened, do far.
Really, it seems like ALL the lenders are in the same boat - no money.
Just a further delaying tactic? Still likely they have no intention of paying anyone until 'push comes to International shove'.
93% - promised payment @30% - nothing received
7% - promised nothing @100% - nothing received
What does the 7% have to lose by pursuing their case???
I think it is interest only payment....and 66% of the 93% in argentines
Mar 03rd, 2013 - 08:32 pm - Link - Report abuse 056 Joe Bloggs
Mar 03rd, 2013 - 08:36 pm - Link - Report abuse 0No, I don't think it is Joe, this is a whole new level of madness. You will, of course, have noted that this “olibeira” is sounding like a broken record....... As if he/she repeats it enough times, it will become true....
How long is it until the referendum??
@poppy
Mar 03rd, 2013 - 09:18 pm - Link - Report abuse 0“I think it is interest only payment....and 66% of the 93% in argentines”
Thx Poppy,
Are you saying that they have only paid 66% of the 93%, and those are the ones living in Argentina??
Are you saying that it has only been paid in AR Pesos ??
Just one interest payment has been made??
Sorry, I want to be clear on this, as I expect oli- the- arrogant- troll will be back to defend his delusions.
65 toooldtodieyoung
Mar 03rd, 2013 - 09:20 pm - Link - Report abuse 0You're most likely right mate but too be honest I couldn't really be less interested in these trolls.
This time next week mate it will be half over.
67 Joe Bloggs
Mar 03rd, 2013 - 09:32 pm - Link - Report abuse 0OK, I'm going on record and I'm going to predict the future here.....
1st thing to happen:-
The referendum will be a resounding success, a big “YES” from the Falkland islanders and two fingers up to the man ( or woman )
2nd thing to happen:-
More angry, whiny, foot stamping and shouts of “It's not fair!!!” and “But they are our Islands!!” from about 400 miles from your left.
No I believe it is that 93% that were restructured anad 2/3 s from Argentina. Hence why so many decided to restructure, they had no choice. The balance 1/3 of that 93% are scattered from outside of Argentina. The payments made so far are interest only payments, but it's hard to say. The restructured so many times it's hard to follow. They had a total debt load of 125 billion dollars....1/8 of a trillion. Thats a lot you can't pay back. 76% of that debt was restructured for about 25 to 35%, 17% were indexed to economic growth, hence the fabricated numbers from INDEC and 7% were holdouts. It's really a mess to try and follow.
Mar 03rd, 2013 - 09:36 pm - Link - Report abuse 0They are paying in dollars, hence the clamp. There are rumors she is going to make an early payment to avoid paying the holdouts on court order from this months payment, but who knows, that might be tough as she is scampering for U$.
I think one really has to be in the industry to see the games they played, continually restructuring, no principal paid but interest only so far.
68
Mar 03rd, 2013 - 09:58 pm - Link - Report abuse 0to true,
,,,,,
but if CFK can avoid paying, she will.
@69 Poppy
Mar 03rd, 2013 - 11:20 pm - Link - Report abuse 0Thanks for clarifying.
That will avoid lots of useless pettifogging back and forth from the Troll community.
@69 good analysis
Mar 03rd, 2013 - 11:59 pm - Link - Report abuse 0Let explain it to you morons that understand nothing about finance.
Mar 04th, 2013 - 01:15 am - Link - Report abuse 0The bondholders who have accepted are getting about 30 cents.
The holdouts haven't received anything.
And they won't receive a cent as long as they keep fighting this thing in the courts.
If they settle they will get the 30 cents. No more, no less. Of course, right now they have spent a couple million in legal fees.
Now, I guess that is a defeat for them. CFK will pay them 30 cents. She will give them the exact same treatment the other bondholders got when they accepted the terms.
Now, if they don't want to receive anything that's fine.
But the fact is that they will never be able to collect 100 cents on the dollar.
Now if you belive in fairy tales you will say that I'm lying.
Ok, be my guest.
They are a this for more about 10 years and they haven't got anything.
Sorry guys. Things are not working up for you.
Keep getting screwed.
Brainstorm what is 30% of 1.8 billion dollars? 540 million in my math, what is it in your INDEC math? So they spent 5,6 say even 10 million, the still have 530 million.
Mar 04th, 2013 - 03:12 am - Link - Report abuse 0Explain RG finance to everyone here......please oli, the la campora way!
@73 oily-troll
Mar 04th, 2013 - 03:14 am - Link - Report abuse 0Everyone knows how this works, Oily.
Argentina is obligated to pay back 100% PLUS INTEREST.
Most people have taken the 30% that was offered to them because they were afraid they would get nothing - because that is what CFK threatened.
The remaining people did not take it. They are still legally entitled to 100% + interest. They are still demanding it.
CFK cannot dictate the terms.
Argentina owes that money.
@69
Mar 04th, 2013 - 10:18 am - Link - Report abuse 0Not sure that an early payment would be that easy. The reason for this being that the bonds docs will have a specific mechanism for payment and any variation of this would require majority holder consent, this is normally quite difficult to get and the other bond holders might not feel comfortable about doing something which would be seen to try and frustrate a pending NY court decision.
Those were some of the reports last week in the NY area. Trying to circumvent payments to the hoold outs. Obviously they are already thinking about how to get out of this. Next payment I believe is another interest payment the end of this month.
Mar 04th, 2013 - 11:05 am - Link - Report abuse 0I bet Argentina offers to pay off the holdouts all the interest due and principal at 100% but over 30 yrs. I think it is fair to both sides and it will put this self inflicted nightmare behind Argentina.
Mar 04th, 2013 - 02:05 pm - Link - Report abuse 0Argentina will have to tap international funding sooner or later even if it's at 13-15% just to pay the fuel bills.
@ 14 Conqueror
Mar 04th, 2013 - 06:35 pm - Link - Report abuse 0“I find it difficult to believe that argieland got its debt down to US$124,300 million from US$126.466 billion.”
Note the difference between the thousand separator ',' and the decimal point '.'
US$124,300 million = US$124.300 billion (US notation)
I do believe this is what you gentlemen are talking about:
Mar 04th, 2013 - 08:58 pm - Link - Report abuse 0http://blogs.ft.com/beyond-brics/2013/02/22/argentina-lies-damned-lies-and-statistics/#axzz2LhqoDe10
@78 Does sound fair.
Mar 04th, 2013 - 09:11 pm - Link - Report abuse 0How much did the holdouts got so far?
Mar 04th, 2013 - 11:48 pm - Link - Report abuse 0Nothing. Nada. Zero.
I don't think that's going to change.
By the way, Argentina doesn't need to tap the markets to issue public debt.
I guess you're going to be defeated yet another.
Bondholders who didn't accepted the offer are going to keep being screwed.
CFK doesn't care about those guys.
On the phone already Hernan?
Mar 05th, 2013 - 12:29 am - Link - Report abuse 0“The country’s Economy Minister Hernan Lorenzino, Finance Secretary Adrian Cosentino and Cleary, Gottlieb, Steen & Hamilton LLP, legal counsel to Argentina in the case, today will discuss by telephone different payment options, Cronista said”
http://www.businessweek.com/news/2013-03-04/argentina-may-offer-holdouts-2038-par-bond-cronista-reports
You say one thing and Argentina does the opposite......lol
Ouch! That has got to hurt.
83. Maybe they're reading my posts!
Mar 05th, 2013 - 01:27 am - Link - Report abuse 0The best they will get its the same the others got.
Mar 05th, 2013 - 07:30 pm - Link - Report abuse 0No biggie here.
They're not getting what they want.
85. Must be nice to live in your own alternate world. In English speaking countries we call it Bizzaro world, where everything is exactly opposite of reality.
Mar 05th, 2013 - 09:21 pm - Link - Report abuse 0Yankee I think olibeirass is from Einstein parallell universe.
Mar 05th, 2013 - 09:50 pm - Link - Report abuse 0Actually agree with the perma tanned beast
Mar 08th, 2013 - 10:01 am - Link - Report abuse 0You brought argentine debt on the off chance of making a huge profit .
very very risky and hopefully it fails.
Otherwise no country can ever go bankrupt.
Well said awesome lady. Stay strong and don't ever change, the world loves what you're doing and wants these vultures to loose! Besos
Mar 10th, 2013 - 02:03 am - Link - Report abuse 0You speak for the world now you fucking dipshit moron? The socialist too broke to see the current misery in Argentina. I was there in January to socialist laggard. Try it sometime. See the grocery store shelves?????
Mar 10th, 2013 - 04:04 am - Link - Report abuse 0@89BK
Mar 10th, 2013 - 06:43 am - Link - Report abuse 0“Well said awesome lady. Stay strong and don't ever change, the world loves what you're doing ”
BK - true to form, you just swooped in again to the end of a thread, to drop a last empty-content 'stink bomb'.
Another vacuous comment from CFK's pet cheerleader.
LOL!!
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