MercoPress. South Atlantic News Agency

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  reality check

  Love it.
  
  “The problem with holdouts.”
  
  They want their money back.
  
  AND THAT'S A PROBLEM!
  
  You really could not make up half the shit you read on here.

  Jun 18th, 2014 - 08:18 am - Link - Report abuse 0
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  willi1

  Jorge Brito: ”...sets a bad record for future consolidations of sovereign debts that might be needed by other countries...”
  always the same bullshit from those who want the privates to be robbed by criminal governments and let the majority of FUNDS and BANKS make their deal.
  if he does not know how to avoid to pay back all debts, than he is stupid or just a windbag. but this must be told the creditors before they buy a bond of such a country.

  Jun 18th, 2014 - 03:45 pm - Link - Report abuse 0
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• 

  ChrisR

  “The path to a negotiation, at the corresponding instance, prevails as the attitude to follow so resolve the conflict with the creditors of the case, mainly not to affect the interests of the 92% bond holders who voluntarily accepted the swap”.
  
  They STILL don’t get it do they?
  
  Those who had the haircut where either banks who could pass the losses onto their customers in raised bank charges and as a bank customer I would be VERY unhappy with that:
  OR
  They were private investors who had and still have NO say in the matter if they want to retain ANY of their money.
  
  There was NO negotiation with The Dark Country: it was take it or leave it.
  
  I am OVERJOYED that SCOTUS did not bend to the will of Obuma and his dead-headed “financial advisors” who completely misunderstand what is needed to allow sovereign default in small nations (and big ones) after this judgement. This lamentable US government is as stupid as TMBOA and her gangsters.

  Jun 18th, 2014 - 09:30 pm - Link - Report abuse 0
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• 

  The_TroLLing_Stone

  @3
  
  You don't believe in negotiations, you twat. Stop lying and pretending you are for negotiations when you are a capitalist pig who backs corporations and billionaires over people.
  
  Small and Big nations have LOST the right to negotiate (in United States crony capitalist courts). Who in their right mind holding bonds would negotiate for LESS MONEY from this point on? When one can sue a country and get 100% back??
  
  The next country that defaults will have to pay all debts in full, plus interest, if underwritten in the USA. NO ONE WILL NEGOTIATE when there is now legal precedent (whether Argentina pays or not is irrelevant now), for one ONE POSSIBLE OUTCOME.
  
  In fact, even if hypothetically if 99.9999% of bondholders did agree to “negotiate” (no chance anyone would be so moronic) with a defaulted nation, I MYSELF as a LONE BONHOLDER could sue for full payment, even if the 99.9999% are millions of people, I alone could sue because I don't agree with that the 99% agreed to.
  
  Oh boy, EITHER poverty will now soar around the world because the economic future of most nations will be chaotic, the whole system will become extremely unstable.
  
  OR nations will now begin avoiding the US financial system entirely.
  
  Whichever it is, I celebrate it.

  Jun 18th, 2014 - 09:59 pm - Link - Report abuse 0
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• 

  Holdout.from.Germany

  We, the holdout creditors, who have been suffering for more than a decade, are in each case the looser and Argentina is the winner, even if Argentina would repay all of OUR money. No one of the argentine government can imagine the suffering of the tens of thousend holdout creditors and their Family.
  
  Now after the US Supreme Court rejected Argentina's appeal, the government of Cristina Kirchner and the Holdouts are forced to sit down and negotiate immediately an acceptable solution, probably under the review of Judge Griesa, to end this HORROR-Default with endless suffering for tens of thousand holdout creditors and their families worldwide.
  
  Most of the Holdouts are “before default buyer”, who have
  bought their bonds at an average of 100% or even higher. That is why we cannot accept similar offers as they were in 2005 and 2010.
  
  The “RUFO” clause (Rights Upon Future Offers) expires as
  of December 2014. That means, that from 01/01/2015 Argentina can make a better offer to the Holdouts, than it made in 2005 and 2010.
  
  If Argentina and the holdouts made already NOW A BINDING AGREEMENT with respect to the “time after” (end of the “Rights Upon Future Offers (RUFO) clause in December 2014), seizure risks and a technical Default would be immediately averted. Argentina could immediately return to the capital market and thus Argentina could refinance the payments to the holdouts, without using reserves.
  Following conditions might be acceptable for the Holdouts and maybe also for
  Argentina:
  Argentina makes a buyback offer of about 130-140% for the
  holdouts ( for owing capital+ accrued interest between 2002-2015).
  
  (Argentina owes to today about 230%, a cash buyback of 130-140% would so mean for Argentina already a debt relief of about 100%)

  Jun 18th, 2014 - 10:37 pm - Link - Report abuse 0
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