MercoPress. South Atlantic News Agency
France will side with Argentina before the US Supreme Court says Telam
France has asked the US Supreme Court to review Argentina's case in its decade-old legal battle with holdout creditors, Argentina's state news agency Telam said on Friday, citing unnamed legal sources familiar with the situation. Read full article
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Disclaimer & comment rules“Some governments and the International Monetary Fund have voiced worry that a ruling against Argentina would make it more difficult for other countries to restructure their debt.” It is odd, to say the least, that it is only countries such as Argentina and Ecuador, corrupt and economically unsound, that are unable to manage their foreign debt obligations and have to revert to “restructure” them. It is made too easy for them.
Jul 27th, 2013 - 06:11 am - Link - Report abuse 0However, the lenders, both commercial banks and foreign government agencies, together with the World Bank and IMF, should be more circumspect when dealing with potential “clients” such as Argentina and be less generous towards them. Also, it is alleged that Argentine private citizens and corporations hold billions in foreign currency assets - cannot they be persuaded to lend to their own “patria”? After all, the professional Argentina trolls that frequently appear in these columns “appear” to be patriotic in the extreme!
@ Gordo1,
Jul 27th, 2013 - 08:33 am - Link - Report abuse 0My guess is that patriotism flies out the window when it comes to getting their wallets out.
“Dinero, señor, noooooooooo”
Is France filing this because the US told the French IMF boss that she shouldn't do this? Is France doing this to show they have some weight and independence?
Jul 27th, 2013 - 12:58 pm - Link - Report abuse 0Is Hollande trying to show France is its own player for his poll ratings at home?
How is France's debt situation? Would they ever default?
Do country's often involve themselves in another country's highest court rulings?
But has anything happened in reality?
Jul 27th, 2013 - 01:09 pm - Link - Report abuse 0Where is the filing reference number so we can all read it?
Or is it a case of French bravado for the press only?
@1 Have to agree with you. There should be a body responsible for ordering minimum terms for a “restructuring”. Nor should “restructuring” be permitted unless the “country” at fault offers a minimum of 50% of the expected return. The body should examine the country's “offers” and the bondholders' reasonable expectations. Any country proposing a “restructuring” would have to submit to the rulings of the body. Any country required to submit would have no right to “secede”. And any country required to submit and comply would immediately lose all international recognition if they fail. Might not be possible to force “bastard” illegitimate organisations such as mercosur and unasur to comply. So withdraw recognition from them as well. For example, argieland fails to submit and comply. International recognition withdrawn. Mercosur and unasur refuse to comply. International recognition withdrawn from them as well. EU/mercosur talks on a trade agreement immediately terminate. NEVER to be resumed. Expand it so that, for example, if argieland fails to comply with a legitimate court ruling, international recognition withdrawn. As things stand at the moment, argieland would immediately lose its temporary seat on the UN Security Council and its seat in the UN General Assembly. “Holdings” in the IMF and similar organisations should immediately be forfeit and used by a court with jurisdiction to comply with the judgement. “Courts with jurisdiction” should not include courts that might support the offender. Thus, no court in Central or South America would be considered to have jurisdiction in a matter involving, for example, argieland. A court in New Zealand perhaps?
Jul 27th, 2013 - 03:37 pm - Link - Report abuse 0Taken from the headline:
Jul 27th, 2013 - 04:15 pm - Link - Report abuse 0“... France has asked the US Supreme Court to review Argentina's case in its decade-old legal battle with holdout creditors, Argentina's state news agency Telam said on Friday...”
Please note that this news does NOT come from France, but from TELAM the Argentine government news agency!!!!!!!!!
Need one say more???????
Have you actually been on Telam's website? It's ridiculous. Half of the articles seem as if they were written by young teenagers on the spot, they're dripping with bias, and they don't even have a comment section.
Jul 27th, 2013 - 04:25 pm - Link - Report abuse 0And they say “Clarin lies”.
There are only a few other nations that the USA hates more than France, Crissy should get Venezuela, North Korea, Iran and Syria to give their worthless opinion too.
Jul 27th, 2013 - 04:40 pm - Link - Report abuse 0To Argie Turnips (6) Simon68 & (7) Optimus_Princeps
Jul 27th, 2013 - 04:52 pm - Link - Report abuse 0Is the Reuters News Agency good enough for you Turnips?
http://www.reuters.com/article/2013/07/26/argentina-debt-france-idUSL1N0FW1NZ20130726
Is the Wall Street Journal good enough for you Turnips?
http://www.reuters.com/article/2013/07/26/argentina-debt-france-idUSL1N0FW1NZ20130726
Is the official communiqué from the French Government good enough for you Turnips?
http://www.reuters.com/article/2013/07/26/argentina-debt-france-idUSL1N0FW1NZ20130726
Think - so? The France of Hollande and Argentina are both bankrupt nations, socially and economically. Birds of a feather?
Jul 27th, 2013 - 06:25 pm - Link - Report abuse 0We say==
Jul 27th, 2013 - 06:34 pm - Link - Report abuse 0just pat ya debts,
simple is it not. -then again ??
To the stupid old bitter and twisted twat allegedly in Chubut.
Jul 27th, 2013 - 07:33 pm - Link - Report abuse 0You have, over the 27 months I have been reading your drivel, lies and innuendo, posted some real bollocks but you have surpassed yourself now.
Have you actually READ these links, because if you have please tell me WTF has changed since my post @4?
The first link:
“France will intervene as a friend of the court to the Supreme Court in this matter,” Moscovici said in a statement released late on Friday..... The deadline for filing such a brief is midnight Friday EDT (0400 GMT Saturday) and Moscovici did not specify when exactly it would be filed.”
Just to be clear THIS IS WAS THE SAME DAY.
The second link, the Wall Street Journal says NOTHING we didn’t know in link one.
The French Government Release: says nothing about when it will be filed AND THE DEADLINE HAS NOW PASSED.
So, I repeat, as you claim to know all about it: “Where is the filing reference number so we can all read it?”
Hahaha
Jul 28th, 2013 - 11:08 am - Link - Report abuse 0First they offer the poor nation loans in order to effectivelly own them and then they blame the poor countries when they can't pay. The loans were unpayable from the word go and the lenders were very much aware of that fact.
The plan was never to get interests in form of Money, but more so in form of raw materials.
The plan failed, and now they are standing there, without the bread nor the cake, well-knowing that should they demand the ”inversion back, Argentina might collapse, and they have no clue whatsoever what could happen should they trigger that scenario, mainly because there are plenty of countries following this case. Countries that find themselves in similar situations and are very much interested in finding out if they should
A. Restructurate debt.
B. Stop repayments altogether.
;)
@9 Have you read this? http://www.nasdaq.com/article/france-backs-argentina-in-debt-case-at-supreme-court-20130726-00752
Jul 28th, 2013 - 12:12 pm - Link - Report abuse 0If you actually READ it, you will find “Mr. Moscovici said France's intervention is not specifically linked to the Argentina case. Rather, Paris fears that the decision to order Argentina to pay could dissuade other creditors from participating in restructuring sovereign debt in the future.”
Not really backing argieland then, is it? Just looking out for itself. On behalf of the Supreme Court, I'd be inclined to say that France's brief isn't relevant. So it will get ditched.
@13 Thank you for your admissions. I wonder who “they” are. Loans weren't “offered”. Argieland “sold” bonds. So it asked for money. Thanks for admitting that the “loans were unpayable from the word go”. That makes the bond offer fraudulent. And argieland deliberately offered the bonds under New York law because no-one would have bought them if offered under argie law. More fraud. Fortunately, most countries who have to offer bonds to raise money have plans on how to repay the debt. Notable exceptions to this are most African countries and argieland. Now it's time for the crooks to PAY! Otherwise, countries all around the world are going to do what they can. Like seizing any argie goods they can and then refusing to pay or compensate. Shipment of soy? Seize it. Shipment of fruit? Seize it. Shipment of meat? Seize it. Expel argieland from G20, UN etc.
This is interesting. At a dinner with a chap the other evening we skirted across many topics that interest us both in politics and economics. He made the comment that the big elephant in the room in the banking world is that France is completely fucked. His words. It will be worse than Greece, he said.
Jul 28th, 2013 - 04:33 pm - Link - Report abuse 015. My biggest client right now is someone from Paris moving all his money out of the country and putting into the USA.
Jul 28th, 2013 - 06:50 pm - Link - Report abuse 0He says it isn't as scary as it was a few years ago but it is really bad and he wants all of his money out of Europe.
France has always talked a good talk: but the actions are always lamentable to say the least.
Jul 28th, 2013 - 08:46 pm - Link - Report abuse 0Unions and commies rule the roost it seems.
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