MercoPress. South Atlantic News Agency
Support for Argentina's 'Malvinas question' in the G77 plus China summit
The G77 plus China extraordinary summit which took place in Bolivia over the weekend approved two statements in support of Argentina's position in the 'Malvinas Islands question' and a second referred to the current conflict with holdout hedge funds, a long running litigation that has reached the US Supreme Court. Argentine president Cristina Fernández attended the Santa Cruz de la Sierra event. Read full article
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Disclaimer & comment rulesThe usual manipulative “crap” from Argentina - blaming the Falklands/Malvinas and, indirectly, Britain for Argentina's economic woes. Pathetic nonsense which has no meaning and to which no-one should take any notice. This statement will be received with utter derision by sensible observers.
Jun 16th, 2014 - 06:52 am - Link - Report abuse 0As far as the “vulture” funds remarks are concerned again Argentina is looking for sympathy where none is deserved.
And, just an afterthought, how on earth can Argentina, a member of the G20 major economies, and, at the same time, be a member of G77 + China? The G77 + China is described as a “The Group of 77 at the United Nations is a loose coalition of developing nations” - does that mean that Argentina can have “its cake and eat it” or does it mean that Argentina is “ni chicha ni limonada”?
Fantastic... Apparently “ the current situation seriously harms the economic capacity of Argentina” Christ a little country like the FALKLANDS can seriously harm the economy of Argentina, can any Argies explain that one?
Jun 16th, 2014 - 06:52 am - Link - Report abuse 0New concept? hardly. This is much the same as every year - and will help Argentina's spurious claim as much as every year.
Jun 16th, 2014 - 06:59 am - Link - Report abuse 0No change.
Unless Argentina starts to complain that the Falkland Islanders are 'blockading' them LOL
Argentina the worlds leading whinger, whingeing as ever. The nuclear penguins are a threat and the Mal Vinas (sour grapes) figment of their imagination continues to fascinate the knuckle dragging populace. Lol!
Jun 16th, 2014 - 07:16 am - Link - Report abuse 0The little Falkland Islands “seriously harms the economic capacity of Argentina”.
Jun 16th, 2014 - 08:06 am - Link - Report abuse 0Really?
You go Falkland Islands. I would have to say that is one of the most amazing modern day events. That a small nation of 3,000 people does so much damage to a country of 40 million.
Perhaps they meant CFK instead of Falkland Islands.
Twisted headline, again the statement doesn't support Argentina but merely supports the need to talk, which is no more or less than the UN official line, also the UK's line and the line of the Islanders themselves. No doubt Argentina wil spin this as actual support for their claim, rather than just for chit chat with no actual care for who wins or loses.
Jun 16th, 2014 - 09:16 am - Link - Report abuse 0The fact that Argentina has walked out or refused talks more times than Paris Hiltons killed a chihuahua is apparently neither here nor there.
As usual nothing within this statement which offers support to Argentina's actual position. At no point does it say the Falkland Islanders should capitulate to Argentinian colonialism. Of all the problems in the world that need resolved Argentina continues to waste everyone's time with a situation that Argentina's leaders do not want resolved. Otherwise they would need another distraction from their corruption and incompetence.
Jun 16th, 2014 - 09:17 am - Link - Report abuse 0Argentina…please come up with something new.
Jun 16th, 2014 - 09:25 am - Link - Report abuse 0Your arguments are so…yawn…predictable & boring.
Or as my kids say…boring,
boring,
boring,
boriiiiiiiiiing!
Yeah but don't you see? The falklands have resources that Argentina wants to mismanage for them!
Jun 16th, 2014 - 09:55 am - Link - Report abuse 0G77? I thought they were in the G20 - oh well!
Jun 16th, 2014 - 10:53 am - Link - Report abuse 0Who/what is the G77 plus China? Where is its relevance? 77 is now a misnomer. There are 133 member countries. Best described as the “Group of Pointless Also-Rans”. Totally irrelevant.
Jun 16th, 2014 - 11:03 am - Link - Report abuse 0But now the Falkland Islands seriously harms the argie economy. GOOD!! Keep it up, Falklands. See your GDP per capita (wealth) is three times that of argieland. Won't it be good when your GDP is ten times that of argieland?
Keep your eyes firmly fixed on YOUR interests and YOUR future. NEVER let the no-hopers across the water get under your skin or inside your economy. Beware Urineguay! It's not what it was 75 years ago. Now it's just two-faced.
The Chinese prime minister is visiting the UK for talks etc. Many, many things to discuss. One topic guaranteed not to be on the agenda is the “Malvinas Question”.
Jun 16th, 2014 - 11:43 am - Link - Report abuse 0And there you have it Argentina: all those resolutions, declarations, proclamations, you name it; no one cares, no one of any value would ever dream of raising the issue with the UK when in direct contact. You need to raise your game.
CFK believes that the Malvinas question ” “seriously harms the economic capacity of Argentina”......so, all the problems Argentina has been experiencing since 1982 are due to the fact that the Falkland Islands do not belong to them ?? That's funny, because this is tantamount to CFK finally admitting that the Islands have a successful and upcoming economy, and that Argentina needs the Falklanders to show her how to run an economy...
Jun 16th, 2014 - 12:35 pm - Link - Report abuse 0G77?
Jun 16th, 2014 - 12:41 pm - Link - Report abuse 0The G77 has One Hundred and Thirty Three member nations (G77 = 133 nations). It also has China as a member.
Afghanistan
Algeria
Angola
Antigua and Barbuda
Argentina
Bahamas
Bahrain
Bangladesh
Barbados
Belize
Benin
Bhutan
The Plurinational State of Bolivia
Bosnia and Herzegovina
Botswana
Brazil
Brunei Darussalam
Burkina Faso
Burundi
Cambodia
Cameroon
Cabo Verde
Central African Republic
Chad
Chile
China (including Tibet, Inner and Outer Mongolia, etc.)
Colombia
Comoros
Congo
Costa Rica
Côte d'Ivoire
Cuba
The Democratic People's Republic of Korea
The Democratic Republic of Congo
Djibouti
Dominica
The Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Ethiopia
Fiji
Gabon
Gambia
Ghana
Grenada
Guatemala
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
India
Indonesia
The Islamic Republic of Iran
Iraq (well, bits of it)
Jamaica
Jordan
Kenya
Kiribati
Kuwait
The Lao People's Democratic Republic
Lebanon
Lesotho
Liberia
Libya
Madagascar
Malawi
Malaysia
Maldives
Mali
Marshall Islands
Mauritania
Mauritius
The Federated States of Micronesia
Mongolia
Morocco
Mozambique
Myanmar
Namibia
Nauru
Nepal
Nicaragua
Niger
Nigeria
Oman
Pakistan
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Qatar
Rwanda
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines
Samoa
Sao Tome and Principe
Saudi Arabia
Senegal
Seychelles
Sierra Leone
Singapore
Solomon Islands
Somalia
South Africa
Sri Lanka
State of Palestine
Sudan
Suriname
Swaziland
The Syrian Arab Republic (well, bits of it)
Tajikistan
Thailand
Timor-Leste
Togo
Tonga
Trinidad and Tobago
Tunisia
Turkmenistan
Uganda
United Arab Emirates
United Republic of Tanzania
Uruguay
Vanuatu
The Bolivarian Republic of Venezuela
Viet Nam
Yemen
Zambia
Zimbabwe
I think the 'G77 + China' should be re-named 'China and the minnows'.
..“ the 'Malvinas Islands question', which seriously harms the economic capacity of Argentina”.
Jun 16th, 2014 - 01:01 pm - Link - Report abuse 0Surely it was the Kirchners who ripped up the Fishing & Hydrocarbons agreements? You can't walk away from a potentially lucrative activity and then complain that your economy was harmed as a result. If you walked away while everyone else stayed and rolled their sleeves up then surely you harmed it yourself. Is that not glaringly obvious? Or are they saying that if they controlled the Falklands they could get ALL the wealth from the resources rather than having to share them with the islanders? Is that not ...errr.... a bit colonial?
Waah, the British stopping us stealing Falkland Island resources is ruining our economy.
Jun 16th, 2014 - 01:25 pm - Link - Report abuse 0What a load of nonsense ! There has been a peaceful solution for over 30 years, Argentina invaded, the UK whooped their ass, Argentina left, and the Falkland Islands have been at peace in a self determined way for over 30 years.
Jun 16th, 2014 - 01:27 pm - Link - Report abuse 0BA Herald 16 June 2014
Jun 16th, 2014 - 02:00 pm - Link - Report abuse 0The US Supreme Court today declined to hear Argentina's appeal over its bid to avoid paying $1.33 billion to hedge fund creditors or risk a potential default.
Without comment, the high court left intact lower court rulings that ordered Argentina to pay. The government had previously warned it could default on its sovereign debt if required to pay in full.
Argentina said in its most recent court filing that the government would struggle to pay the bondholders in full while also serving its restructured debt. In that scenario, “Argentina will have to face, objectively, a serious and imminent risk of default,” the filing said.
The bondholders dispute that assessment, saying in their own court filing there was evidence presented in lower courts that Argentina could afford to pay.
Argentina is seeking to avoid making full payment to holdout creditors led by hedge funds Aurelius Capital Management and NML Capital Ltd, a unit of billionaire Paul Singer's Elliott Management Corp.
Argentina was contesting an August 2013 ruling by the 2nd US Circuit Court of Appeals in New York in a decade-long legal battle with bondholders who rejected the country's two debt-restructuring offers after the country defaulted on roughly $100 billion in 2001.
Creditors holding about 93 percent of Argentina's bonds agreed to participate in the two debt swaps in 2005 and 2010, accepting between 25 and 29 cents on the dollar.
The appeals court upheld a November 2012 ruling by US District Judge Thomas Griesa, who ordered Argentina to pay the $1.33 billion into a court-controlled escrow account.
@10 Steveu (#)
Jun 16th, 2014 - 02:12 pm - Link - Report abuse 0See my comments at 1 above.
And elsewhere, the SCOTUS says:
Jun 16th, 2014 - 02:46 pm - Link - Report abuse 0http://www.supremecourt.gov/opinions/13pdf/12-842_g3bi.pdf
The wording “The falkland Island economy seriously embarrasses the Argentine economic shambles” would have been more appropriate and I am sure all but a few Argentinians would agree .
Jun 16th, 2014 - 04:42 pm - Link - Report abuse 0WASHINGTON — The Supreme Court on Monday turned away Argentina’s appeal of a lower court’s decision requiring it to pay holders of bonds on which it had defaulted. The Supreme Court’s brief order gave no reason for declining to hear the case.
Jun 16th, 2014 - 04:42 pm - Link - Report abuse 0The development is likely to add to the turmoil in Argentina’s already unsettled bond market.
The case was brought by bondholders who refused to accept reduced payments after Argentina’s 2001 default. They say they are owed more than $1.3 billion. Most of the nation’s other creditors accepted such payments in later debt swaps.
The United States Court of Appeals for the Second Circuit, in New York, ruled last August that Argentina had violated a contractual promise to treat all bondholders equally.
In the Supreme Court, Argentina asked the justices to refer the case to New York’s highest court for a definitive resolution of the proper interpretation of that contractual language, as it is a question of state law.
Separately, Argentina asked the justices to decide whether the lower court had misinterpreted a federal law on sovereign immunity.
The bondholders urged the justices not to hear the case, in part because they said Argentina had vowed not to comply with a ruling against it in the case, Argentina v. NML Capital, 13-990. “This court does not grant review to render decisions that the parties are free to ignore,” their brief said.
Argentina replied that it would try to comply but that another default would be a live possibility given the overall sums at stake for all holdout bondholders.
“Since Argentina lacks the financial resources to pay the holdouts in full (what would amount to $15 billion) while also servicing its restructured debt to 92 percent of bondholders,” the country’s lawyers wrote, “Argentina will have to face, objectively, a serious and imminent risk of default.”
Laughable nonsense.
Jun 16th, 2014 - 05:19 pm - Link - Report abuse 0I won't comment further. It has already been said in the thread.
If Argentina defaults on the debt, what will happen to the hoped for foreign investments?
Jun 16th, 2014 - 05:27 pm - Link - Report abuse 0Emotion driven presidenta Cristina will deliver a televised speech at 9 pm Arg time (TUE 01:00 GMT), where she will blame everybody else, whine, howl, kick, scream and, perhaps :), talk about the birds from the Falkland Islands.
Argentina's only viable survival strategy is to pay.
@14
Jun 16th, 2014 - 05:49 pm - Link - Report abuse 0Thanks for posting the G77 list, I hadn't actually heard of them before, just been laughing at the list of world major players lol. Interesting that 'yet again' the request that the UK and Argentina talk and settle what Argentina describes as a 'dispute' is taken by Argentina as support for their cause.
We are a permanent member of the security council, like we give a toss what that collection banana republics think.
China extraordinary
Jun 16th, 2014 - 06:09 pm - Link - Report abuse 0say no more...
Grytviken on BBC4 in an hour. Programme on whaling…
Jun 16th, 2014 - 06:59 pm - Link - Report abuse 0“which seriously harms the economic capacity of Argentina”
Jun 16th, 2014 - 07:31 pm - Link - Report abuse 0LOL! The G77 can buy as much RG debt as they want if they want to show solidarity with Argentina. As for how a million sheep will solve Argentina's economic death spiral... Well I guess you would have to be an RG to answer that one.
Dispute settled permanently in 1982.
Jun 16th, 2014 - 08:58 pm - Link - Report abuse 0Nothing left to discuss.
Game Over Argentina.
Stop sulking and grow the fuck up fools!
It seems they've also been pissing the Pope off. Guess who's in the frame?
Jun 16th, 2014 - 09:35 pm - Link - Report abuse 0http://www.newsmax.com/edwardpentin/falkland-francis-pope/2014/06/16/id/577186/
Latest FI related news...
Jun 16th, 2014 - 09:52 pm - Link - Report abuse 0'Argentina’s bond drama: pathway to peace or a new Falklands? - News on Monday that the US Supreme Court would not, after all, hear an appeal by Argentina against a lower court ruling forcing it to pay all holders of its defaulted debt came as a body blow to Beunos Aires... Economists knew there was a chance of this decision so should have prepared for it. The worst decision would be turn this into a Malvinas/Falklands cause: they’re against us and use it as something to rally the people behind the government. Hopefully this won’t be the line she takes as that would destroy all the work done with the Paris Club, for example...'
http://blogs.ft.com/beyond-brics/2014/06/16/argentinas-bond-drama-pathway-to-peace-or-a-new-falklands/?hubRefSrc=permalink
'Blue-and-white Argentina army invades Rio ~ ...“Y ya lo ve / y ya lo ve / El que no salta / es un ingles!” “Now you see / now you see / He who doesn’t jump / Is an Englishman.” England should be flattered that Argentina’s favourite football chant, ~ ... there’s the Falklands, but it’s clear now that the Argentina team’s highly controversial intervention on that delicate issue was just a diversionary tactic, ...'
http://blogs.ft.com/beyond-brics/2014/06/16/argentinas-bond-drama-pathway-to-peace-or-a-new-falklands/?hubRefSrc=permalink
'Argentina Presses Pope Over Falklands Dispute - Vatican officials are becoming increasingly irritated with the Argentine government after its ambassador to Britain — a vocal critic of the U.K.’s sovereignty over the Falkland Islands — sought a private audience with the pontiff...'
http://blogs.ft.com/beyond-brics/2014/06/16/argentinas-bond-drama-pathway-to-peace-or-a-new-falklands/?hubRefSrc=permalink
'Another look at the islands - Pagina 12 / In 1941, the Malvinas issue became compulsory subject of instruction in schools in the country...'
http://blogs.ft.com/beyond-brics/2014/06/16/argentinas-bond-drama-pathway-to-peace-or-a-new-falklands/?hubRefSrc=permalink
Doesn't anyone else see this: “'Malvinas Islands question', which seriously harms the economic capacity of Argentina” as an obvious insult to Argentina.
Jun 17th, 2014 - 07:09 am - Link - Report abuse 0This can only be interpreted in two ways: either Argentina's economy is so weak that the addition of the islands would make a difference or that Argentines spend so much time complaining that their productivity is adversely affected.
#31
Jun 17th, 2014 - 10:21 am - Link - Report abuse 0Partial quote from article above
“as the black-browed albatross that is in the design of the banknote 50 pesos spent on the islands. These birds fly to the mainland, to Patagonia, but not to London, an idea already mentioned the President to claim again for Argentina's sovereignty. ”
Yes, quite true. They are found in the waters and also world wide BUT they do not land on Patagonia.
However, for at least 50 years, they have been regular off the coast of Scotland and have summered on the Bass Rock, Fair Isle and more recently Sula Sgeir. This being the case, Scotland has more right to claim the Falklands than ARGENTINA.
@33
Jun 17th, 2014 - 11:20 am - Link - Report abuse 0So it's not just the G77 plus China that supports Argentina, it's the G77 plus China plus the black-browed albatross. Oh my gosh.
Heaven forfend, of course, that anybody should ask the people who actually live there what they think.
“while the Islands are in the middle of the process recommended by the UN General Assembly”
Jun 17th, 2014 - 11:47 am - Link - Report abuse 0So is the end of the process in 2065 then? (Assuming the beginning was in 1965).
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