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After all: Argentina seems willing to start discussions with Griesa and hedge funds

Friday, June 20th 2014 - 07:21 UTC
Full article 67 comments

After a day of fury and discussions with cabinet members, advisors and experts, Argentine president Cristina Fernandez will be sending a government delegation to New York to meet Judge Thomas Griesa and the hedge funds holdouts' solicitors and begin, hopefully, a round of negotiations to reach a settlement on the bonds litigation. Read full article

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  • reality check

    So despite what Capitanich said, it know appears that they will be sending a delegation.

    I hope they are going to go their with some concrete proposals or at least make an effort to demonstrate to the judge that they are treating the ruling with a modicum of seriousness.

    If the judge even gets even half whiff of delay, deceit or duplicity from their side, he is going to act. He has said as much and I expect their legal team will have warned them of that fact. Though I suspect they will ignore that sound advice too and do their own thing.

    Jun 20th, 2014 - 07:47 am - Link - Report abuse 0
  • ElaineB

    Chaos. The Argentine government delegation are going to NYC. No, wait! CFK has had a hissy fit. They are not going because someone said something nasty (but true) about her. No, wait! There is not alternative unless CFK wants someone looking for all her stolen dosh. Got to stay in power. They are going to NYC. Mustn't say anything stupid. No, wait! etc.

    Do they realise how stupid and inept they look?

    Jun 20th, 2014 - 07:49 am - Link - Report abuse 0
  • willi1

    stupid stubborn leaders need stupid helpers because they don´t understand wise helpers.
    so acts ck. since she was a child.

    Jun 20th, 2014 - 08:17 am - Link - Report abuse 0
  • toxictaxitrader2

    She is still a child!
    some people mature in body but not in mind.

    Jun 20th, 2014 - 08:51 am - Link - Report abuse 0
  • lornefirth

    I blame the fools who gave them the loans in the first place.Imagine giving money to two faced people like the Argies. You learn by your mistakes..........

    Jun 20th, 2014 - 11:11 am - Link - Report abuse 0
  • ChrisR

    Obviously TMBOA has changed the national anthem to this:

    http://www.youtube.com/watch?v=ulsFONO-qZg
    (from The British Council)

    What a good choice as they all seem to have their heads stuck in fishbowls.

    Jun 20th, 2014 - 11:18 am - Link - Report abuse 0
  • falklandlad

    Looking at the postivieness of this, there seems to be a bit of common (sense) in the dog after all.

    Jun 20th, 2014 - 11:38 am - Link - Report abuse 0
  • El Diego

    Comment removed by the editor.

    Jun 20th, 2014 - 12:04 pm - Link - Report abuse 0
  • ElaineB

    @9 The Argentine government are running around like headless chickens waiting for the latest whim of CFK. No wonder so many Argentines are very, very worried.

    Jun 20th, 2014 - 12:09 pm - Link - Report abuse 0
  • ilsen

    @8 your silly little diatribe has no relevance to the article above. You may as well go shout at a wall.

    The Argentine Government is looking increasingly defunct at home and just plain inept to the rest of the world. They have no room or capability to negotiate and all this shilly shallying is only going to harm relations with the Paris Club.

    Jun 20th, 2014 - 12:16 pm - Link - Report abuse 0
  • zathras

    8 El Diego (#)
    What have you comments got to do with this issue...nothing whatsoever, deflect, deflect.
    Now clearly your knowledge of mathematics is the same as the Argentinian government...
    Even though England are yet to win a game they could still qualify.
    So tell us how is the disciplinary going:
    http://www.fifa.com/aboutfifa/organisation/news/newsid=2370294/index.html

    Jun 20th, 2014 - 12:17 pm - Link - Report abuse 0
  • Conqueror

    A payment plan with bonds? Are they totally mad? This legal action has been all about argieland's failure to comply with bond terms. And presumably said bonds will be issued under argie law? Holdalls full of cash. They're used to that. Only problem will be how to smuggle it into the States. Or is it already there. I worked out the interest on US$1.33 billion at a nominal 5% compound for 12 years. It makes the total around US$2.3 billion. Might have been better to cough up 10 years ago. Somehow I think Judge Griesa is well ahead of the argie game. None of this “pay up over 7 years” that the Paris Club went for. Paid in full in 28 days or else.

    And all those other bondholders should be asking whether they can lodge claims because of the duress. But only if they can afford 12 years of legal action. Or they want to sell to NML. NML should find it easy. Precedent. Now, ordinary argies may suffer. At first sight, that's terrible. But is it? Who voted for the Kirchners? Who kept voting for the Kirchners? In the face of credible evidence that Kirchner N and Kirchner C are crooks, why would they do that? How many crooks are there in argieland? We know some of them get on here to try to brazen it out. Game's up! Time for “honesty” lessons in argieland? That's real honesty, not the argie version.

    Jun 20th, 2014 - 12:34 pm - Link - Report abuse 0
  • yankeeboy

    Before AxelK takes off for NYC someone should tell him that whining and banging on the table isn't negotiating and won't fly here.
    He tried that at IDB and I hear stormed out in tears.

    The holdouts have no reason to take less then they are owed. They have no reason to delay payment until 2015.
    They don't care if Arg defaults because they'll still get paid eventually.

    They have a few weeks to work this out. For the population's sake I hope that CFK and minions realize they've lost and they should do whatever NFL is asking to get this behind them and move on.

    Jun 20th, 2014 - 01:00 pm - Link - Report abuse 0
  • CabezaDura2

    And what will they negotiate?? pay 90% in bonds from late 2016 onwards??

    Jun 20th, 2014 - 01:14 pm - Link - Report abuse 0
  • Welsh Wizard

    I don't quite get what all this negotiating is about. If I was the Hedgies I'd just be saying, pay up now. I don't need to negotiate. Also, if you don't pay up I am going to try and seize every high profile asset of yours around the world.

    Jun 20th, 2014 - 01:24 pm - Link - Report abuse 0
  • yankeeboy

    14. Argentina's goal is to come to an agreement but not sign anything until next year.
    I don't see how that would be possible.
    NML has the upper hand, they don't have to do anything but wait to get paid so why would they?
    Arg has cost them millions, gave them bad press all over the world and negotiated in bad faith.
    If I were them I say, Cash now please, the terms are clear, pay me now exactly what you owe me or go away.
    I'd also take a couple Aerolineas jets as soon as it lands in the USA just to show I was serious. They can legally seize anything they can find now.
    I'd do it quickly so CFK knows they mean business.

    I hope they do.

    Jun 20th, 2014 - 01:24 pm - Link - Report abuse 0
  • CabezaDura2

    The Ks will throw a fuss but even if they have to pay 15 Bn to the 7% that didn't enter the debt restructerations in 2005 & 2010, it wll oonly be 10% of national income. Its amazing how they dont want to cut on crap.
    Aerolineas planes abroad are all hired or in leeasing process so you cant take them over. No wonder they loose millions daily

    Jun 20th, 2014 - 01:33 pm - Link - Report abuse 0
  • yankeeboy

    Even though they are leased they are owned by the Gov't. They could take them. The goal isn't to keep them its to embarrass Argentina like they did with the ship a couple years ago.
    My guess is they'll end up opening up the whole exchange again and have the IMF manage the “bankruptcy”.
    Whether its this Prez or the next I'm pretty sure that is how it will end up.
    Exports are down substantially, There's a cash crunch right around the corner on top of this mess.
    And there's no way to get U$ into the country until this is worked out.

    Jun 20th, 2014 - 01:41 pm - Link - Report abuse 0
  • Condorito

    Once they pay the holdouts, it is going to be interesting to see how they spin the news.

    After making so clear, so often and so publicly that she was not going to give once cent to the holdouts, how is CFK going to present the situation?

    Jun 20th, 2014 - 01:43 pm - Link - Report abuse 0
  • yankeeboy

    19. My guess....The evil Americans are trying to break us. What can you expect from the sons of Pirates.
    blah blah blah

    Jun 20th, 2014 - 01:49 pm - Link - Report abuse 0
  • CabezaDura2

    Aparantly Aerolineas has not being leagally fully nationalized or expropiated according to Recalde.

    http://www.lanacion.com.ar/1703014-recalde-confia-en-que-no-embargaran-los-aviones-de-aerolineas#lf_comment=179469961

    I think the whole legal dodgy situation of Aerolineas was ment to cover up for Jaime's corruption as transport minister.

    What is beyond me is that having so much crap to cut from they choose to keep on spending ramping upp the deficit and inflation and refusing to pay debts.

    Jun 20th, 2014 - 01:51 pm - Link - Report abuse 0
  • yankeeboy

    21. I don't think he is right. Plus it doesn't really matter they could always release it once ownership is established. That would take some time. The delay and the Rgs stuck in the USA would be the goal.

    Jun 20th, 2014 - 02:06 pm - Link - Report abuse 0
  • ElaineB

    So, they have stopped all import payments and the reserves are still falling. It doesn't sound good.

    Jun 20th, 2014 - 02:13 pm - Link - Report abuse 0
  • yankeeboy

    I can't wait to hear the ridiculousness that is sure to come out of CFKs mouth in a couple hours at the Flag day ceremony.
    It looks like the gov't is in collapse and they have no idea what to do.
    I think it is hilarious
    I love watching them implode.

    Jun 20th, 2014 - 02:41 pm - Link - Report abuse 0
  • ElaineB

    There is a really interesting article on bubblear.com - actually there are a few interesting articles including prisoners being humiliated in Argentine jails - where the options available to the Argentine government are pondered. The only real option is for CFK and Magic Sideburns to eat humble pie and appeal to NML for a reprieve. NML did indicate they would listen but each time CFK opens her mouth and insults them they harden. This is the reason they refused to negotiate prior to the ruling. The wanted to hold all the legal cards and have Argentina accept they hold no power and must ask nicely. The question is, can CFK swallow her enormous ego for the good of Argentina?

    Go and read it.

    Jun 20th, 2014 - 02:52 pm - Link - Report abuse 0
  • pisco

    Maybe attending this meeting is just another front to show the homeland that CFK is doing everything possible to save her poor Argentina. Then, when the mierda hits the fan, the witch is forced to call out the military to save the country from itself.

    Jun 20th, 2014 - 02:53 pm - Link - Report abuse 0
  • CabezaDura2

    It must be very hard for the lawyers and negotiators of having to explain every time Argentina's off thee record position f reaching an agreement in NY when the whore is throwing a charade and a war speeach “Galtieri style” in Rosario.

    Jun 20th, 2014 - 02:58 pm - Link - Report abuse 0
  • Holdout.from.Germany

    THE SOLUTION COULD BE EASY !!!

    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.

    Argentina and the holdouts make 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%)

    in practice the negotiations could look like this:
    Argentina should enter into good-faith negotiations with the holdout creditors – all of them –via the good offices of Mr Singer. A firm deadline should be set to reach an agreement, say January 2, 2015, two days after the expiration date of the Rights Upon Future Offers clause, that Argentina from offering higher prices to some holdouts.
    A similar pari passu promise should be made by NML Capital to the other holdouts, guaranteeing that, after a final deal is struck, NML Capital’s recovery rate of principal and accrued interest (net of legal and other expenses related to the litigation) would be the same for all holdouts…”

    Jun 20th, 2014 - 03:46 pm - Link - Report abuse 0
  • yankeeboy

    27. CFK is making it very hard on the negotiations, they're actually may not be any negotiations. I doubt AxelK wants to come back in defeat.
    In the short term they'd be better off defaulting and using the money for Imports. A default really wouldn't be a big issue for them and they need the U$ to make it through this year.
    It is fun to watch.

    Jun 20th, 2014 - 03:48 pm - Link - Report abuse 0
  • ElaineB

    @28 You posted this before.

    If CFK wants a good faith agreement and to delay until next year she is going to have to eat shit. That is the problem.

    Jun 20th, 2014 - 03:58 pm - Link - Report abuse 0
  • yankeeboy

    There is no way to both have a ratified agreement and wait until next year. Even if there was a way to craft this silly convoluted deal the remaining holdouts would still be entitled to additional compensation.
    I would think even the bondholders that accepted the last restructuring would be entitled to it too.
    And why would Singer do it anyway?
    He doesn't have to do anything plus I bet he hates Argentina with Tango passion.

    Jun 20th, 2014 - 04:34 pm - Link - Report abuse 0
  • Briton

    After a day of fury ,
    And its all their fault,
    and never CFKs..

    Jun 20th, 2014 - 06:26 pm - Link - Report abuse 0
  • JollyGoodFun

    Royally screwed springs to mind with Argentina.

    After all the abuse dished out to the Falkland Islanders, Americans, Brits, the Anglosphere (cousin nations) in general, we're now reaching the point in time where, just as people such as Yankeeboy have pointed out for some time, the chickens are coming home to roost.

    I believe an immediate payment will be demanded, after all it will be an immediate payment plus 10years in total - I hardly call that immediate, and Argentina have had a huge amount of time to pay

    Jun 20th, 2014 - 07:34 pm - Link - Report abuse 0
  • reality check

    It gets better and better, read KFC's speech for their Flag day.

    It's hilarious, even manages to include Iraq as well as, you guessed it, the Falklands. WTF does that have to do with the NY Court???????????????

    Calls on the judge to set the rules for negotiations.

    The woman's barking, what planet does she live on?

    Jun 20th, 2014 - 07:52 pm - Link - Report abuse 0
  • CabezaDura2

    34.

    You must consider that the barking was destined to the ignorant bought public that she had moved by buses from BsAs to Rosario just to clap and cheer at her if not they get there welfare subsidies suspended.
    What I gather is that she will pay provided that her gov't arrives at safe port to the end of 2015, they will try to get a similar deal to that of Repsol compensation with bonds and that the Stay is somehow re introduced.

    Now shall she do and wwhat will happen when she doesn't get her way ???
    That is the million dollar question now

    Jun 20th, 2014 - 08:06 pm - Link - Report abuse 0
  • yankeeboy

    34. She is so stupid. She really doesn't understand that they lost. It still has not sunk in.
    The judge will not be included in negotiations nor will he set up guidelines. The case is done.
    The stay is lifted
    Pay up or default UNLESS they can get NML to take less.
    and that's doubtful
    They have no reason to except less PLUS they should be compensated for their legal fees.

    Jun 20th, 2014 - 09:05 pm - Link - Report abuse 0
  • St.John

    In # 12 Conqueror asks “How many crooks are there in argieland?”

    Answer: app 18 million out of a population of 41 mio.

    When in Argentina I have often heard people of the provinces wishing for a Berlin Wall around Buenos Aires, where the worst viveza criolla is found.

    Jun 20th, 2014 - 09:05 pm - Link - Report abuse 0
  • woodgreener

    CFK government should pay the debts by selling off some land... I suggest the Tierra Del Fuego ... and then anglicize the territory.

    Jun 20th, 2014 - 09:42 pm - Link - Report abuse 0
  • reality check

    She should asl El Diego for a sub.

    He's got shedsa money!

    Jun 20th, 2014 - 10:22 pm - Link - Report abuse 0
  • Holdout.from.Germany

    The whole world would be very pleased, if this since 2002 ongoing NIGHTMARE-DEFAULT finally had been finished!

    Under the review of Judge Griesa, Argentina and the Holdouts may come together, 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 SOLUTION COULD BE FOLLOWING:

    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.

    Argentina and the holdouts make 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.

    In practice the negotiations could look like this:

    Argentina should enter into good-faith negotiations with the holdout creditors – all of them –via the good offices of Mr Singer. A firm deadline should be set to reach an agreement, say January 2, 2015, two days after the expiration date of the Rights Upon Future Offers clause, that Argentina from offering higher prices to some holdouts.
    A similar pari passu promise should be made by NML Capital to the other holdouts, guaranteeing that, after a final deal is struck, NML Capital’s recovery rate of principal and accrued interest (net of legal and other expenses related to the litigation) would be the same for all holdouts.

    Jun 21st, 2014 - 02:12 am - Link - Report abuse 0
  • Troy Tempest

    40 Troll from Germany

    Sorry, the “Holdouts” have the best deal possible - payment in full, and starting immediately!

    What can Argentina offer that's better?

    Jun 21st, 2014 - 04:34 am - Link - Report abuse 0
  • reality check

    I see Greisa as issued a written warning that transferring this to BA jurisdiction, would put them in contempt of the court order.

    Wise man, now not even they, by that I mean their government, can be in any doubt of the consequences of playing a NY District judge for a fool.

    Jun 21st, 2014 - 04:34 am - Link - Report abuse 0
  • Think

    TWIMC

    My boy Kicillof must be doing something right...

    Argentina's “Country Risk”... (calculated by JPMorgan Chase & Co. that little known Kommunistic largest American Bank & Multinational Financial Services Holding Company)... hasn't been so low since the beginning of 2010 :-)))

    http://www.ambito.com/economia/mercados/riesgo-pais/

    Jun 21st, 2014 - 06:18 am - Link - Report abuse 0
  • Joe Bloggs

    43 Think

    Of course he's dong something right; I completely agree with you. You go Elvis and get stuck right into them Vulture funds and them US judges; they've had it coming for years. Show them that Argentina ain't gonna take no shit from no-one.

    That's my boy.

    Jun 21st, 2014 - 08:26 am - Link - Report abuse 0
  • Think

    TWIMC

    My boy Galuccio must be doing something right too…

    YPF’s shares up 5.07% yesterday to a 52 weeks high (cotization from that little known Kommunistic New York Stock Exchange in New York :-)))

    https://beta.nyse.com/quote/XNYS:YPF

    Jun 21st, 2014 - 08:41 am - Link - Report abuse 0
  • reality check

    Make hay whilst the sun shines, because when the default comes, they are going to drop through the floor.

    Sell, sell, sell and be quick about it.

    Tick, tock, tick, tock, tick, tock, tick, tock.

    The boogie man cometh and his name is Singer!

    Jun 21st, 2014 - 09:19 am - Link - Report abuse 0
  • Think

    TWIMC

    My boys and gals at CNEA are certainly doing things right…

    Argentina’s newest Nuclear Power Plant; Atucha II, will, by November 2014 be producing some 3.500 MW (~5% of Argentina’s electricity requirements :-)))…

    https://www.sckcen.be/en/News/20140618_Atucha

    Jun 21st, 2014 - 09:43 am - Link - Report abuse 0
  • reality check

    Wow that's impressive.

    And it's only taken you 33 YEARS even with SIEMENS help!

    Jun 21st, 2014 - 10:38 am - Link - Report abuse 0
  • yankeeboy

    I think it is hilarious Think posts irrelevant data points like anyone here believes anything he says.
    YPF was up after being down more a day before
    Default insurance is down after being way up a couple days earlier
    It fluctuates on the inane ramblings of a lithium soaked Prez.

    More importantly inflation is running 40% now, probably more by the end of the year, even the DEEP Recession won't bring it down much. Peso is more worthless every day. Another devaluation in imminent. BCRA is withholding import payments for as long as they can. The float is running out though. Soy revenue is just about done for the year. Then we'll see how much there really is in U$. NML is tracking YPF worldwide assets so they can immediately seize them if they don't come to an agreement by eom July.
    And that's the good news
    :)

    Jun 21st, 2014 - 12:13 pm - Link - Report abuse 0
  • Think

    TWIMC

    Today's Argentinean Presidency advertisment in the Wall Street Journal..:
    http://www.infonews.com/advf/imagenes/2014/06/53a573967109e_651x1157.jpg

    And now to the really important stuff...
    Vamo vamo, Argentinaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
    Vamo vamo a ganáááááááááááááááááááááááááááááááááááááááááááá
    K'esta barra, Kilomberaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
    No te deja, no te deja de alentááááááááááááááááááááááááááááááááááá

    Jun 21st, 2014 - 01:44 pm - Link - Report abuse 0
  • yankeeboy

    50. That' advert is the kind of brainless/childless prank that will get Argentina into more trouble.
    They are not a smart people.

    Jun 21st, 2014 - 01:52 pm - Link - Report abuse 0
  • reality check

    Not the sharpest tools in the box.

    I wonder if the WSJ took legal advice before publishing the advert.

    They certainly make it plain that is what it is, a paid advertisement.

    They seemed determined to upset Griesa.

    Like I said, not the sharpest tools in the box.

    Jun 21st, 2014 - 02:30 pm - Link - Report abuse 0
  • yankeeboy

    One wonders who the advertisement was directed at? I think they're still under the impression that USA Prez or Congress will help them somehow.

    They're not going to get help from anyone.

    tick tock

    Jun 21st, 2014 - 02:34 pm - Link - Report abuse 0
  • Troy Tempest

    53 YB
    Perhaps they're expecting a groundswell of support from Hepatia's Latino Senators and others in the US Government, who will reflect the wishes of their Latino constituents in a showing of “Latin Solidarity”.

    Sorry, pure fantasy - Argentina, it doesn't work that way outside of your own country.

    USA Americans are Americans first, not racists.

    No American is going to support you circumventing a US legal ruling to pay US bond holders - especially as you are a country with a history of publicly criticising the US and supporting her enemies.

    Desperate and self- righteous - you have publicly embarrassed yourselves and alienated yourselves from anyone in the US Judicial System, Banking, or Government.

    The hole just got deeper.

    People are laughing at you.

    Jun 21st, 2014 - 03:11 pm - Link - Report abuse 0
  • yankeeboy

    Argentina has no friends in the US Congress, State or POTUS. And it would be the height of impropriety for anyone in Politics to mettle in the US courts.
    There's no political upside to help Argentina.
    They're a strange people, thinking everyone is as corrupt as they are you'd think they would have learned that by now.
    I bet they didn't run that ridiculously childishness advertisement by their attorneys.
    Who are probably freaking out.

    Jun 21st, 2014 - 03:25 pm - Link - Report abuse 0
  • ilsen

    I agree. That Paid Advertisement will influence exactly nobody to support Argentina against a SCOTUS ruling. It only serves them to look petulant and whiney. In fact it may even anger some Americans that a foreign country seeks to interfere in its judicial process. I can think of one old fellow for sure, name begins with a G.
    :-)
    Bit of an own goal really.

    Jun 21st, 2014 - 03:42 pm - Link - Report abuse 0
  • ElaineB

    I am at a loss to understand why Think posted that. Not good for Argentina.

    I can only assume it was booked and paid for before CFK capitulated.

    Jun 21st, 2014 - 03:50 pm - Link - Report abuse 0
  • reality check

    I have a sneaky feeling that their law firm is going to be glad to see the back them.

    If I were them I would switch to criminal law representing, pimps, pushers and prostitutes is going to be a breeze after representing this psychotic bunch!

    Jun 21st, 2014 - 03:53 pm - Link - Report abuse 0
  • yankeeboy

    58. Ks has bought a lot of summer houses, boats, race cars for those attorneys over the last decade.
    They may be nutty but legal bills are on retainer so as long as they pay I am sure they'll always be able to find clients.

    Jun 21st, 2014 - 04:07 pm - Link - Report abuse 0
  • Troy Tempest

    58 RC
    “If I were them I would switch to criminal law representing, pimps, pushers and prostitutes is going to be a breeze after representing this psychotic bunch!”

    Pimps, Pushers, Prostitutes, have more integrity.

    :-D

    Jun 21st, 2014 - 04:23 pm - Link - Report abuse 0
  • reality check

    More $US too!

    Jun 21st, 2014 - 04:30 pm - Link - Report abuse 0
  • Troy Tempest

    LOL !!!

    Jun 21st, 2014 - 04:37 pm - Link - Report abuse 0
  • ChrisR

    I think the advertisement is just what “the rest of the world” needs, setting out as it does the viperous nature of the presidency of The Dark Country.

    Having read this and checking the facts of the “haircut” that was “negotiated” with all its creditors before making the “take it or lose your money offer” how can any reasonable country escape the obvious conclusion that these people are to be avoided at all costs.

    TMBOA can now revel in the dubious glory of being the “First Lady of Duplicity”.

    Jun 21st, 2014 - 06:49 pm - Link - Report abuse 0
  • ilsen

    Looking like it's all over for Krass-tina.

    Good riddance!

    Jun 21st, 2014 - 09:58 pm - Link - Report abuse 0
  • Anglotino

    Wow. Thanks Think.

    How embarrassing for your country to have the president take out an ad pleading your case in such an amateurish fashion.

    The court of public opinion may work in Argentina where unions and La Campora can rally the troops for a show of strength, but it won't work anywhere else.

    However I'm glad that Think is fully supportive of the baby step towards economic orthodoxy that are being taken. And the results are starting to come in already.

    Now imagine if CFK had started taking the steps years earlier and not at the last minute.

    Jun 22nd, 2014 - 12:05 am - Link - Report abuse 0
  • Conqueror

    @50 Lovely advertisement, Twinky. Shame that there's so much demonstrable disinformation in it. The very first lie was enough to destroy the whole thing. There's the one about REPSOL over YPF. Where, according to the argie constitution, the retaking of 51% of YPF was illegal because REPSOL should have been compensated FIRST. I was surprised to hear about the “lengthy negotiations” for the debt swap. On two levels. Level 1 - lengthy. Level 2 - negotiations. How long did it take Nestor to say “Accept this or get nothing”. And on what basis was that a “negotiation”? The best thing that can be said about this advertisement is that it does demonstrate to the world what a bunch of lying scumbags the argie “government” is. Argieland doesn't need to grow in order to pay its debts. It just needs to pay its debts. Then it wouldn't have to grow. Supposedly, argieland needs to pay 1.33 plus 15 billion dollars. Argieland supposedly has reserves of between 27 and 28.5 billion dollars. Doesn't 27 minus 16.33 equal 10.67? Where's the problem? A number of people in argieland seem to have an unnecessary internet connection. Cut them off and “seize” the subscriptions. Argies shouldn't be allowed on the internet. Brings down the whole tone of the institution. Facebook. Twitter. Terrorist instruction manuals. Paedophile “dating” agencies. Porn and argies. Although the last three may go together!

    Jun 22nd, 2014 - 12:23 pm - Link - Report abuse 0
  • reality check

    That is the way they dialogue, negotiate to you and me.

    Tell you what they want and expect you roll over and give it to them?

    Jun 23rd, 2014 - 08:30 pm - Link - Report abuse 0

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