MercoPress. South Atlantic News Agency
Argentina plans to reopen debt swap program and will request to meet Griesa
Economy Minister Axel Kicillof has announced that the government plans to reopen the debt swap program in the hope of renegotiating bonds held by hedge funds, after the US Supreme Court declined to take Argentina's case against the so-called 'vulture funds'. Read full article
Comments
Disclaimer & comment rulesQuote “ we will not reach a deal under any condition or circumstance” surely a translation error.
Jun 18th, 2014 - 07:56 am - Link - Report abuse 0So according to the above NO DEAL.
They have exhausted the legal appeals system and know they are requesting talks with the presiding judge.
Jun 18th, 2014 - 08:12 am - Link - Report abuse 0Ecky Thump, does the American judicial system work like that?
It's a novel concept, one of the plaintiffs seeking to negotiate with the judge over his ruling on a case!
@2 It's a little like when you are caught speeding or pissing in the street after a night on the ale bus and you try to negotiate with the policeman whose foot you've just piossed on not to fine you. They have that slightly incredulous look and then start to giggle a little bit when they realise that you think you are actually in a position to negotiate...
Jun 18th, 2014 - 08:20 am - Link - Report abuse 0“Nevertheless, keep calm, all has been considered and studied in depth. We have taken all the necessary measures to ensure that the financial situation of Argentina is not at risk by small groups that only pretend to make a quick profit, no matter the damage they cause”.
Jun 18th, 2014 - 08:31 am - Link - Report abuse 0As opposed to the Argentinian government who take 75% or more of the money they were loaned and refuse to pay if back, but that is OK because they 'negotiated' a severe hair cut on the loan, 'no matter what damage they caused'. I am sure those investors were very happy to get less than a quarter of their investment back.
There are risks when loaning and borrowing in the financial markets, but only the Argentinian government can play the victim card and conveniently forget that it was their own stupidity, greed and mis-management that has got them into the position they find themselves in today.
Argentina needs to raise this at the C24.
Jun 18th, 2014 - 08:33 am - Link - Report abuse 0I'm sure it could be arranged for CFK to read out some extended speech on the matter in front of her cronies there.
kicillof: “ ... the financial situation of Argentina is not at risk by small groups...”
Jun 18th, 2014 - 09:48 am - Link - Report abuse 0so. that means if most of the creditors have accepted to be robbed by a criminal government like the arg´s than the rest can forget their rights. typical arg and kicillof and the whole governmental gang. they MUST pay!
When Greisa responds with a negative reply to their request for a meeting. Which, having already given his ruling, he is sure to do.
Jun 18th, 2014 - 10:27 am - Link - Report abuse 0We can all guess who will be painted has the villain and who will be painted has the victim, can't we?
It's incredulous that these so called educated people, do not understand that judges do not engage in negotiations on their rulings! What do they think the court process is for?
The trouble here is that their own judicial system is politicised and they assume that other systems are the same.
He won't meet with them without the other party being present. And I am sure it will go something like, “ NML won, here's the verdict, talk to them” and let me know what you two work out.
Jun 18th, 2014 - 10:31 am - Link - Report abuse 0They don't understand English is the primary problem. The Second problem is they are stupid. The Third problem is they think every place is just as corrupt as they are.
This is why time and again they fail on the world stage.
Why audiences burst out laughing when they are trying to explain why whatever they are doing will absolutely work in Argentine when it has been shown to fail everywhere else in the world every time it has been tried.
They are not a smart people and
They truly believe their own propaganda
Exactly, it's NML they should be talking to, not the judge and he will tell them so.
Jun 18th, 2014 - 10:52 am - Link - Report abuse 0If NML want to come to a settlement with them outside of court, that's a matter for NML.
Frankly, I do not think they can comprehend that. I think they are incapable of comprehending that, I honestly do.
RC, I'm with you, they can not grasp that they must negotiate with NML. They're just too stupid and arrogant to know when to concede defeat.
Jun 18th, 2014 - 11:17 am - Link - Report abuse 0Plus the 2 announcements defying SCOTUS and NY Courts didn't help them.
They should learn to keep their big mouths shut.
My guess is Griesa will lift the hold today to force them to a solution in the next 2 weeks or default.
It is funny that they keep screeching, this payment will cause us harm, its like someone in bankruptcy saying I don't want to sell my car its too nice and I like it.
Argentina is an Idiocracy, all the smart people have left over the last 75 years so all that is left is stupid people breading with even stupider people.
https://www.youtube.com/watch?v=uIbMAxqKmx8
Jun 18th, 2014 - 11:19 am - Link - Report abuse 0After all of the obligatory Argentine whining and name-calling my bet is they will go for option 3.
@10 - Yankeeboy I found your comment about the stupid people breeding with the stupider absolutely hilarious.
Jun 18th, 2014 - 11:39 am - Link - Report abuse 0It's probably a bit mean but I have a vivid imagination of herd like Argentinians chewing grass all moaning like cows humping in a field.
With representatives from the Uk, US, Canada, Australia, New Zealand, Germany and the rest of the world on the outside of the fence with clip boards and glasses all agreeing that this is what happens when dumbarses out breed people with brains.
Hah, negotiate with NML, you might as well suggest they meet with the non existent inhabitants of the a Falkland Islands.
Jun 18th, 2014 - 12:09 pm - Link - Report abuse 0Argentina has steadfastly refused to negotiate with its creditors, it just presented its haircut as a fait accompli and ignored the fact that they chose to write the bonds under New York law rather than easily corruptible Argentin “law”.
They should have taken the debt restructuring to the court when they were in extreme financial difficulty and pled poverty. They cannot do that since they have reported massive economic growth since then and lined their coffers by stealing the pensions assets of their own citizens. With those marketable assets in hand how can they claim poverty. What is their defence going to be?
1) they cannot pay their bills because corruption and incompetence has bled the country dry.
2) they cannot be required to sell the shares they acquired because this was stolen property and therefore should be safe from any claim.
3) they cannot pay their bills because they earmarked it to steal or squanders what is left of the countries wealth at a later date.
4) they have already stolen or spent those assets.
Or a combination of all 4.
“and anticipated Argentina's lawyers in New York will request an audience from Judge Thomas Griesa” Smart move sending in other people to bow and scrape after trying to trash the Judges verdict for ever and a day. What a way to run a country ffs.
Jun 18th, 2014 - 12:33 pm - Link - Report abuse 0To the people that cry about my trolling:
Jun 18th, 2014 - 12:50 pm - Link - Report abuse 0Read the 14 comments above and the horrendous, racial, cultural, and ethnic vitriol against argentines by the anglos. Then you wonder why I treat them (you) as the moronic scum you really are!
Argentina plans to reopen debt swap program
Jun 18th, 2014 - 12:51 pm - Link - Report abuse 0Apparently the small print actually states that Argentina can ask for a swap with Norway or Switzerland
meaning you take our debt and we take your debt,
it actually works the theory,
All you need is the other country who is in credit , be stupid enough to swap with you .lol
Is Axel' planning a coup?
Jun 18th, 2014 - 12:52 pm - Link - Report abuse 0“We have taken all the necessary measures to ensure that the financial situation of Argentina is not at risk by small groups that only pretend to make a quick profit”
”Kicillof said that the Cristina Fernández administration would take the necessary steps for “a new debt swap under Argentine legislation”
Jun 18th, 2014 - 12:53 pm - Link - Report abuse 0Ha, ha, ha, as if NML are going to fall for that old one!
More like they may have to pony up some hard assets that can easily be sold. Tango 1 is virtually worthless but they must have some property around the world that may have a value. It will be no use asking for the readies.
The judge HAD already suggested a negotiation which TMBOA rejected, probably in a hissy fit, but now she will have to do it (or take a bottle of tablets): I prefer the last one because The Dark Country will still have to pay as well.
So it all worked out fine in the end! HA, HA, HA.
10/1 Axel makes an appearance..
Jun 18th, 2014 - 01:02 pm - Link - Report abuse 0Between this and Campagnoli impeachment the people in BA have reached the boiling point. @12.2 to 1 it is good for my exchange rate.
Jun 18th, 2014 - 01:10 pm - Link - Report abuse 0I can already see the lawyers counting the money, up front of course, goes without saying.
Jun 18th, 2014 - 01:25 pm - Link - Report abuse 0They must be laughing in their portfolios.
I would say briefs, but that conjures up an image of high profile NY lawyers running round in their white jockey shorts, laughing their arses off?
Argentina is constantly claiming the support of countless organisations and countries making pointless statements about the Falklands. Well let them step up and help out. After all talk is cheap, but when the shit hits the fan you find out who your true friends are.
Jun 18th, 2014 - 01:34 pm - Link - Report abuse 0Next time they go to the C24, as well as taking Betts and the descendants of Vernet with them. It might be a good idea to take a large supply of hats with them, to pass around amongst their supporters.
Jun 18th, 2014 - 01:38 pm - Link - Report abuse 0No cheques please!!
@12 “Yankeeboy I found your comment about the stupid people breeding with the stupider absolutely hilarious. ”
Jun 18th, 2014 - 02:01 pm - Link - Report abuse 0yeah about as “hilarious” as anything that comes out of the eugenics kool-aid.
Now he is using the old, “This government did not create this debt” line.
Jun 18th, 2014 - 02:09 pm - Link - Report abuse 0It's not our fault.
What is it with people, governments inherit the policies of the previous incumbents along with the responsibilities for their actions.
One things for sure, whoever replaces them is going to learn that the hard way!
@15 BooHoo. “Look how all the nasty people are being horrible to me”. In other words, the retreat into being a victim. AGAIN!! That one hasn't fooled anybody for years. YOU decided to try your bond scam. YOU decided to defraud hundreds of ordinary people. YOU decided to undertake legal actions instead of paying up. Along the way YOU've lied, YOU've slagged off the judge, YOU've said YOU won't comply with any judgement. I can't think of any other state anywhere that would do half of that. To add insult, YOU can't even use OUR language properly. YOU know what YOU are. Now YOU know that WE know as well. If YOU don't like what is said, change your ways. Try honesty, responsibility and truth. In the current scenario, admit your debts, make a commitment to pay EVERYONE. Forget the “haircut”. Reinstate the value of the bonds to 100%. Apologise to everyone. Then start paying. Work on the basis of paying a minimum US$5 billion a year. Start with NML. Then you can go on to pay EVERYONE everything you owe. You'll need to stamp out corruption at EVERY level. Starting at the top. CFK, for one, needs to hand back at least US$10 million. No-one has any doubt that it is stolen money. And it is most likely that there are undeclared millions. Argieland should go into major austerity from the top to the bottom, but fairly. No more cake and champagne for anyone.
Jun 18th, 2014 - 02:21 pm - Link - Report abuse 0@18 Surely the first thing is for argieland to declare ALL its assets. No doubt the world will be prepared to step in and advise on managing the economy. Argieland can do without its navy and most of its air force. Even if the equipment is virtually worthless, it can do without the expense of maintenance, repair, fuel, personnel. The state airline can probably be closed down. More money by selling the aircraft, or ceasing to lease them, moving personnel to productive employments and so forth. Argieland needs to operate within its means. Probably for 20 years or more.
There seems to be a lack of urgency and understnadiong in BA over this. All I can see if that their strategy is to complain that it is not fair and they want a different decision.
Jun 18th, 2014 - 02:21 pm - Link - Report abuse 0This really is an excellent example of people who are completely out of their depth.
If Kicillof wasn't up to the job he shouldn't have taken it. Teaching the theory of economics is no proof of ability. Though he did boast of his skill of being able to hypnotise CFK. (Must be the magic sideburns).
Jun 18th, 2014 - 02:23 pm - Link - Report abuse 0Interestingly, Kicillof, for all his claims of being a leftie, has adopted the most traditional approach to solving the many problems of Argentina. Where he seems to have failed is in assuming that one swallow makes a summer. Just turning up at the Paris Club - the one-stop shop for poor and failing countries - and making noises about paying (at last!) will not change the perception of the Argentine government overnight. Maybe the magic sideburns don't work outside of Argentina.
CFK and everyone associated with her and Nestor will have to go before anyone will change their negative perception.
@28 - Agreed. Although I'm still surprised as the level of ostrich syndrome on display here. I've known that this government is incompetent for a while but at least incompetent people normally panic or show some sort of acknowledgment when they are in the sh1t. These guys don't seem to understand that things just got bad, very quickly. Being a restructuring lawyer for DCM/securitisation transactions, I've never seen anyone quite so clueless as to the situation they have got themselves in.
Jun 18th, 2014 - 02:47 pm - Link - Report abuse 0I know much of this is showboating in front of the electorate but it seems the only plan they have come up with is to pay the restructured bond holders on the 30th and pretend that the judgement of the NY courts just didn't happen. It's almost a complete state of denial
@29 Do you think this is just to fool their supporters until they can think of what to do next? I can't imagine CFK will ever make the speech with her confessing to messing up big time. Though she looked shell-shocked in her video. And what was all that crap on her desk? It looked like a school girl's desk minus the lucky gonk.
Jun 18th, 2014 - 03:18 pm - Link - Report abuse 0@15 Troll Idiot...
Jun 18th, 2014 - 03:24 pm - Link - Report abuse 0'Read the 14 comments above and the horrendous, racial, cultural, and ethnic vitriol against argentines by the anglos. Then you wonder why I treat them (you) as the moronic scum you really are!'.
Think you had better read some of the 14 posts as well, you might find they refer to your inept government rather than Argentines per se, but please go ahead and spout your horrendous, racial, cultural, and ethnic vitriol against anglos by a minority of delusional Argentines. Then you wonder why they treat you as the moronic scum you really are!'.
Touché.
@30 - I think that they are trying to look busy and like they understand what is going on. I also think that it hasn’t quite clicked that they have effectively got a bill for $15bn arriving in the post pretty soon. I thought that the desk and the piece of cardboard was hilarious. Any serious country would have had some sort of Peter Snowesqe interaction diagram/chart. Not something made by the Blue Peter team and covered by sticky-back-plastic.
Jun 18th, 2014 - 03:28 pm - Link - Report abuse 0Interestingly, an Argentinean girl in my office said that they obviously hadn't realised that the judicial system is different to the system in Argentina and you can't just call up a judge to get a ruling altered. Argentinean lawyers are a funny bunch; they don't seem to understand that different countries have different legal systems. On cross-boarder deals they will always try and tell you how to interpret English law by just applying Argentinean law, they seem to think that it is universal. Shows how bad the legal educational system is over there I suppose.
I absolutely love the fact that they can appeal a judgement to a higher court, lose and then think they can go back and revisit the ruling with the original judge.
Jun 18th, 2014 - 03:39 pm - Link - Report abuse 0It's the stuff of comedy.
Surely, their American legal team are advising them?
All I can think is, that true to form, they are ignoring that advice.
It's the only logical explanation.
Pretty astute comments (ignor trolls)...
Jun 18th, 2014 - 03:53 pm - Link - Report abuse 0I think AR will change the pay-through agent bank from Bank of NY (bound by US court's jurisdiction/injunction) to Bank of X (not bound by US Ct) and then ignor the case entirely. Payments will be made to the substitute bond holders who previously agreed to take a severe haircut.
No further access to international credit lines will eventually first cause pensioners to suffer, then the entire middle class.
Yes but the only thing I would add is that the NML group have said they would negotiate - though not BEFORE the ruling. It is the only real life-line the Argentine government has if CFK can 1) keep her mouth shut and 2) swallow her pride. O.K., they have no hope. :)
Jun 18th, 2014 - 04:02 pm - Link - Report abuse 0When they say their lawyers are going back to NY to negotiate with Greisa, I take it what they mean is, is that they will negotiate with NML through the auspices of court?
Jun 18th, 2014 - 04:17 pm - Link - Report abuse 0It must be, can not mean anything else.
@36 I think they will use a third party. It would be in Argentina's interest considering the negative comments they have been making about the very people they need to cut them some slack.
Jun 18th, 2014 - 04:23 pm - Link - Report abuse 0Despite some of the usual Argentines on here taking up their well practised victim poses, no one wants a country to go broke. If the government would just shut up and do the deal they could avert some of the consequences. Not all because even without this ruling they are running out of money.
@33 reality check
Jun 18th, 2014 - 05:24 pm - Link - Report abuse 0They tell Griesa he doe not know and understand the law, you fight his judgement all the way to the supreme court that agrees that his judgement was sound, and now are are again challenging his judgement.
I suppose the next step is to complain to a higher court that he won't now change his judgement.
By the way, there was no negotiation with those that accepted the reduced payment, they were told the only other choice they had was no payment.
The appeals court just released the stay!! That was their hope to kick this can into Sept.
Jun 18th, 2014 - 05:40 pm - Link - Report abuse 0I would love to know how much lithium CFK has taken the last couple of days.
Their whole plan just went down the toilet and they don't have a plan B.
@39 Yes, it all happened as you said it would.
Jun 18th, 2014 - 06:23 pm - Link - Report abuse 0I am wondering if CFK will develop another illness. It seems the right time.
Only another stall. Words only. O bobo, bo.
Jun 18th, 2014 - 06:44 pm - Link - Report abuse 0It would be refreshing, perhaps even stunning to see some payment action, even if minimal. and not merely words.
Argentina and the ol' hag that runs it was severely reprimanded by Griesa. I guess she is just too stupid to understand that every time she opens her big trap it will be harder to negotiate with NML.
Jun 18th, 2014 - 08:40 pm - Link - Report abuse 0I think its funny that when it all goes down the toilet it is easy to see how crazy and stupid these people really are.
Argentina won't pay, we are already experts in defaulting. Whether CFK negotiates with the holdouts or not, nobody will see a penny unless it is certain that the 92% that accepted previous restructurations can't sue Argentina if it pays the holdouts.
Jun 18th, 2014 - 09:02 pm - Link - Report abuse 0Don't expect Argentina will make a deal with the holdouts so easily. The people are fed up of paying debt that they believe is illegitimate because the government took it behind their backs. It will make the riots in Europe when they tried austerity there look like a picnic.
Just reading they have found another oil field in west Falkland.....................just saying
Jun 18th, 2014 - 09:04 pm - Link - Report abuse 0OT but who was here that laughed at me for supporting Chile at the WCFs? After England, of course.
Jun 18th, 2014 - 09:06 pm - Link - Report abuse 043. Nobody cares if they default it is not threat. I'd be surprised if she paid too. I am sure she doesn't know what to do . Default and drag it out until 2016 when the next Prez takes over or ruin her and the googly eyed wonder's legacy. Either way she is screwed.
Jun 18th, 2014 - 09:08 pm - Link - Report abuse 0I am so glad they lifted the stay.
This will play out in the next couple of weeks
and it will be fun to watch
@ 46 yankeeboy
Jun 18th, 2014 - 09:15 pm - Link - Report abuse 0Have you got a link to that as I have searched the US papers and can't find a mention of it?
Thanks.
http://www.reuters.com/article/2014/06/18/argentina-debt-stay-idUSL2N0OZ14520140618
Jun 18th, 2014 - 09:18 pm - Link - Report abuse 0A U.S. appeals court on Wednesday lifted a hold on a judge's order requiring Argentina to pay $1.33 billion to bondholders who did not participate in two debt restructurings
@46 What do you mean by ruin her legacy, it's already ruined. Or by that you mean lose the stolen loot?
Jun 18th, 2014 - 09:26 pm - Link - Report abuse 0Right now she can still claim “won decade” without the unwashed and uneducated peasants throwing up.
Jun 18th, 2014 - 09:31 pm - Link - Report abuse 0If she defaults it will not be the case.
Ks took them out of default, spent all the hard assets, then brought them right back to default.
Not a story she wants as her final legacy.
BA herald.
Jun 18th, 2014 - 09:32 pm - Link - Report abuse 0US Judge Tomas Griesa today considered “a problem” the televised speech delivered by President Cristina Fernández de Kirchner on Monday after the US Supreme Court declined to hear an appeal by Argentina in its battle against the holdouts.
It “really does not give me confidence in a good-faith commitment to pay all the obligations of the republic,” he said.
Can't someone, anyone, muzzle that woman?
Jun 18th, 2014 - 09:40 pm - Link - Report abuse 0I still think she will go on sick leave.
All the usual totally ill informed comments are still coming in from the gringo muppets on this non event. This is being sorted out and a default is not going tp happen. Now is the time to invest in Argentina before prices go higher
Jun 18th, 2014 - 10:58 pm - Link - Report abuse 0All the gringo muppets on here haven't a clue about argentina and economics in Latin America - its all just infantile silly speak . My investments in Argentina have increased 150% in the last year. Thanks to all the negative comments on here I knew it was a huge Argentina buy signal and I have made more investments this morning. Thank you my gringo investment advisors - HAHAHAHA
You are all just sore because you lost so much money in Argentina and don't have a clue about investing - soon my company will launch an investment fund for the oil and gas sector with huge interest in USA - anybody seriously interested please let me know and we can become richer and richer together thanks to the huge opportunities in Argentina
We took the helicopter out for a spin today from Rio over to Giselle's villa in Buzios and spent the day at the pool with Lionel and Sergio and had a few caipirinhas on our private beach. It was such a lovely day and a great day for investing
Ah é ?
Jun 18th, 2014 - 11:21 pm - Link - Report abuse 0That is a round trip distance of over 363 km, my friend. Too long a flight for the helicopter services from Rio.
Nice try, yanqui. Dream on.
The Argentine talk is just that - making noise for domestic consumption.
Jun 18th, 2014 - 11:27 pm - Link - Report abuse 0Trying to reopen the debt swap under Argentine law will be in contempt of US courts and won't get any takers - 'are you willing to give up the protection of New York law and accept any whim of the debtor?'
@43
Jun 18th, 2014 - 11:41 pm - Link - Report abuse 0Agreed. The greed of the vultures for refusing to negotiate (note what the vulture fund NML said today: “If Argentina wants to discuss payment, they know where to find us”... it's not “terms of payment” , just “payment”), and the potential greed of the swapped bond-holders who would sue for equal treatment means that, yes, Argentina defaults on the 30th... but that ALL the bonholders won't see a penny, this time for good.
Dream on gringo muppets - default won't happen as the judge is getting his wings clipped as we speak - more time is coming to see sense and eventually will be thrown out of the US court system.
Jun 19th, 2014 - 12:12 am - Link - Report abuse 0Off out for a private dinner at Roberta's - mmmmmmm.
And I for one believe you.
Jun 19th, 2014 - 12:14 am - Link - Report abuse 056. The terms have already been settled by the court.
Jun 19th, 2014 - 12:22 am - Link - Report abuse 0They're simply Pay What You Own Now
Why should they accept less?
So CFK and minions have more to steal?
Silly stupid provincials.
@59
Jun 19th, 2014 - 12:45 am - Link - Report abuse 0What they accept or not is irrelevant, since they won't see the money. Can't pa when you don't have money.
@50 I think she worries more about not having more money to give handouts than her “story”. Still, it's nice to see poetic justice. The K made their fortune by seizing assets from people during the dictatorship, now Singer gave CFK a taste of her own medicine. A better story than anything CFK could come up with.
Jun 19th, 2014 - 01:33 am - Link - Report abuse 0@52 I'm afraid muzzling is impossible, after all, she got voted in. It doesn't seem she will take sick leave. Rumor is she'll make a new speech this Friday with all the K squad and more insults to the vultures.
LATEST NEWS
Default Confirmed!
http://www.urgente24.com/227933-es-oficial-el-default-argentina-confirmo-que-incumplira-el-pago-del-3006
La Nacion is now reporting Argentina will not pay the hold-outs, and by extension will likely be impeded to pay the 92% restructured in New York.
Jun 19th, 2014 - 01:42 am - Link - Report abuse 0Oh this is going to be fun to watch!
Jun 19th, 2014 - 01:56 am - Link - Report abuse 0First on my list would be YPF shares, Aerolineas Jets, All Arg gov't account at Banco Nacion in the USA, UK, EU.
Fun fun fun!
I can't wait!
62
Jun 19th, 2014 - 01:58 am - Link - Report abuse 0Amazing how one can keep your finger on the pulse of the world, live other cultures, absorb centuries of legal, financial, political , history - all from your parents' basement.
Yes, because after the phone/internet spying debacle EU nations are going to just “give” the US courts argie assets. I have already read that the Germans WON'T do that as retaliation (under the official “excuse” that the assets that may exist in Germany may be reserved to pay local “hold-outs”). France and Spain have already told the US courts “no way”. Italy probably would back Argentina. The UK would likely be the only one to grant US courts access to discovery.
Jun 19th, 2014 - 01:59 am - Link - Report abuse 0Oh for Pete's sake they are blaming the US Courts for not being willing to negotiate!
Jun 19th, 2014 - 02:06 am - Link - Report abuse 0Bahahhaa
These retards are so out of their depth!!
It is no wonder they get laughed every time they leave their own country.
@66
Jun 19th, 2014 - 02:12 am - Link - Report abuse 0OK, you can keep typing all the epithets out to Pluto...
Your buddy Singer still ain't getting paid.
14 years of this and in one short communique, it was all for nothing (you might get a few dozen million from scattered assets, but that's about 14.92 billion short)
Too bad, so much effort.
You have no idea how the real world works. Argentina owns lots and lots of assets. What happens when YPF ships out oil for refining? It will be seized. Do you seriously think ANYONE will invest in your O/G now?
Jun 19th, 2014 - 02:20 am - Link - Report abuse 0Not sure about SOY but I think the way it is set up the Gov't is the owner at the time of sale. Then it will be Seized as soon as it hits the next port.
My guess is they'll go after the BCRA BIS account too.
Singer will keep embarrassing and tightening the noose until Argentina concedes and pays.
Wait and See.
Seized by WHO and with WHAT???
Jun 19th, 2014 - 02:27 am - Link - Report abuse 0Hahahaha, you really are clueless how the real world works.
Yes, countries around the world are going to bow to Singer every other week, causing an international incident with Argentina, just so a billionaire has a couple extra pennies.
You are one hallucinating NorthAmian!
Seized by the court and with the rule of law, you idiot!
Jun 19th, 2014 - 05:17 am - Link - Report abuse 0An international incident with Argentina? Bahahahaha
Jun 19th, 2014 - 10:47 am - Link - Report abuse 0Nobody cares about Argentina!
Has anyone else noticed the Trolls have faded away??
Jun 19th, 2014 - 02:03 pm - Link - Report abuse 0Vestige Stevie Hepatia - suddenly gone.
Doubtless being briefed on how to “handle” the Debt Crisis.
That doesn't involve re- tuning the economy, however.
Get ready for the official Party Line...
This is so funny with all the gringo muppets getting excited about a default that is not going to happen. Like impudent children in the playground - hahahaha
Jun 19th, 2014 - 03:17 pm - Link - Report abuse 0DEFAULT WILL NOT HAPPEN
I will come back here on June 30th and you will all see how CORRECT my inside information is. Again - DEFAULT WILL NOT HAPPEN
73.
Jun 19th, 2014 - 03:48 pm - Link - Report abuse 0Really? You seem over-confident on this govt's ability to take a step back and do the right thing for once.
Are you sure they are not planning to run away somewhere remote? How will they materialize the money to pay? Will you lend them some?
@71
Jun 19th, 2014 - 04:10 pm - Link - Report abuse 0EIGHT hours only to come up with such a meek and feebly pathetic response... hahaha.
You know what I said is totally true. Singer **may** get building or plane in the first few weeks, but week after week of Singer placing court orders in countries all over the world will wear VERY QUICKLY in the diplomatic circles of all those nations, and will eventually tell Singer to f-ck off and reach a separate deal with Kirchner to end the circus.
Idiot child Tobias writes about the default “
Jun 19th, 2014 - 04:39 pm - Link - Report abuse 0Your buddy Singer still ain't getting paid. ”
Perhaps, but two years ago I sold my house in Mendoza.
In a year or so, paying the poverty stricken new owner in US dollars I can buy it back at about 20% of the sales price.
Idiot child Tobias, welcome to a Zimbabwe look-alike Argentina.
This is going to be horrible for the normal Argentines, like 2001-2002.
@76
Jun 19th, 2014 - 04:46 pm - Link - Report abuse 0EVERY source has said it will not be anything like 2002, when Argentina was completely dependent on the bond markets, had 4 years of recession, 20% unemployment, banks were massively in debt, currency had been pegged, had 120% of foreign debt weight, and commodities were very low. You are a fool for believing so. All those are now almost flipped (no bonds in 15 years, 10 years of growth, 10% unemployment, banks have no debt, currency floats to allow flexibility to economy, 25% foreign debt ratio, commodities firm).
I thought you said you lived in Mendoza?
Jun 19th, 2014 - 05:02 pm - Link - Report abuse 0What country are you describing?
Idiot child Tobias does not live in Mendoza, or he would have told us what is happening in Don Bosco today.
Jun 19th, 2014 - 05:23 pm - Link - Report abuse 0Idiot child Tobias, I spent 2001-2002 in Buenos Aires, I saw what happened, and I recognize the symptoms. No foreign investment = no development, because all sensible Argentinos have moved their fortunes out of the country and aren't going to invest in the cesspit.
No matter how many times you write “You are a fool for believing so.” won't change events.
This will be worse than the 2001 crash, all the hard assets that were stolen and used to prop up the economy over the last decade are GONE.
Jun 19th, 2014 - 05:42 pm - Link - Report abuse 0Plus the Ks have destroyed every single business that produced profitably.
Nothing is left
the cupboard is bear
Toby, I was sleeping for 8 hours dufus. I have a job unlike you. Also what you probably don't realize when I don't bother answering your posts its because they are too stupid. There's no point. You are so far off base and out of reality there no way to respond. Its like arguing the sky is green. Nomatter how many times I say its blue you keep saying its green. It is better just to give up and let you wallow in your idiocy.
@79
Jun 19th, 2014 - 05:52 pm - Link - Report abuse 0What a moron, I haven't even made one comment on the WORLD CUP. So does that mean I don't live on Earth?
What an idiot with his ridiculous deduction (i)llogic.
Idiot child Tobias answers “I haven't even made one comment on the WORLD CUP. So does that mean I don't live on Earth?”
Jun 19th, 2014 - 06:45 pm - Link - Report abuse 0To a mendocino the world cup is nothing compared to what is happening in Don Bosco today, but not in c. moron at the border to Godoy Cruz.
Hahaha, are you stuck in traffic there you know all the details???
Jun 19th, 2014 - 06:48 pm - Link - Report abuse 0England vs Uruguay
Jun 19th, 2014 - 06:56 pm - Link - Report abuse 0starting now.
and no “Stevie” in sight...
It is ice cold here in Sampa today, compared to warm and sunny Fortaleza.
Jun 19th, 2014 - 07:48 pm - Link - Report abuse 0So far Uruguai -1, UK - 0.
Where is Pepe ?
85
Jun 19th, 2014 - 07:56 pm - Link - Report abuse 0“Where is Pepe ?”
Hmm, hadn't thought of that.
CFK would be sucking up the kudos if she were there...
.
I imagine Maduro will not attend - too many “Opposition Mayors” and “US Agents” and ”Oligarchs (ilsen)” conspiring to kill the chosen one of Chavez
Mr. Maduro, better known as “ El Supremo Rosa ” is in hiding, sinking further into the madness of daily “conspiracy plots ” against him.
Jun 19th, 2014 - 09:45 pm - Link - Report abuse 0His vacation Bolivia, augmented perhaps by the coca tea of his host, only increased his persecution delusions:
http://venezuelaconspiracytheories.blogspot.com.es/?m=1
He has surrounded himself with bodyguards, and being short on funds, has tied Caracas telephone directories around his bulging body, in case of snipers, or even drones. Mr. Morales said it worked well for him.
'beloved' of the people' ... !
Jun 19th, 2014 - 09:58 pm - Link - Report abuse 0LOL !!
URUGUAY 2
Jun 19th, 2014 - 10:46 pm - Link - Report abuse 0ENGLAND 1
Hooray!
I didn't like any of those loser teams... hopefully Costa Rica and Italy edge out of that group.
Jun 20th, 2014 - 12:57 am - Link - Report abuse 0Love the fact that the Argie Gov has to 'request and audience' with at NY judge. I am sure they thought they could just show up and bully/bribe like they do at home.
Jun 21st, 2014 - 01:37 pm - Link - Report abuse 0I would love it if he turned them away. Which he can do.
@87 yup, an excellent website for keeping an eye on the paranoi/propaganda constantly emitted by the chavista clowns
Watching BBC News on TV this morning.
Jun 21st, 2014 - 05:22 pm - Link - Report abuse 0The banner at the bottom of the screen, message scrolling past repeatedly “ Cristina Kirchner, Argentine President, has announced they want to negotiate with all creditors, a reversal of their position not to talk with Hedge Funds”
How embarrassing for her.
How embarrassing for Think et al.
@ 92 Troy Tempest
Jun 21st, 2014 - 06:58 pm - Link - Report abuse 0But who, apart from you, watches BBC News?
Ha, ha, ha. I am convinced she thinks the hoo-hah is confined to The Dark Country. :o)
Yes. Of course no one ever watches BBC, the most trusted news source in the world. Or CNN. Or follows Reuters or AFP. Absolutely no one checks these news wires except Troy!
Jun 21st, 2014 - 10:19 pm - Link - Report abuse 0Bahahaha!
KFC gambles that her supporters only watch TeleSur. Financed from Caracas.
A high risk strategy on her part in the internet age.
No wonder she has Tango 1 on stand by.
Tick Toc.
94. She can't take Tango 01 anywhere nice.
Jun 23rd, 2014 - 01:46 pm - Link - Report abuse 0Maybe Correa will give her asylum.
Jun 23rd, 2014 - 04:13 pm - Link - Report abuse 0Commenting for this story is now closed.
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