MercoPress. South Atlantic News Agency
Cristina Fernandez calls for negotiations: “we want to pay 100% of creditors”
In a conciliatory speech compared to previous statements, President Cristina Fernandez said on Friday her government would negotiate with all of Argentina's creditors in a bid to avoid a new debt default that would further weaken the country's ailing economy. Read full article
Comments
Disclaimer & comment rulesTime for talking is over dahling, you lost, all they want to know now is where are you depositing the C A S H.
Jun 21st, 2014 - 09:42 am - Link - Report abuse 0The penny has dropped-refusing to pay your debts isn't a good idea.
Jun 21st, 2014 - 09:44 am - Link - Report abuse 0She capitulates at last. Argentina capitulates and accepts it has to pay up.
Jun 21st, 2014 - 09:53 am - Link - Report abuse 0Oh, to have been a fly on the wall these last few days as CFK threw tantrums and finally accepted she failed.
Serious question though.
Jun 21st, 2014 - 10:00 am - Link - Report abuse 0When and if they regain access to the financial markets, who in their right mind and I repeat, right mind, is going to lend to them?
@4 You might be surprised. The terms would be pretty steep.
Jun 21st, 2014 - 10:10 am - Link - Report abuse 0The mask has cracked. KFC has failed, publicly.
Jun 21st, 2014 - 10:10 am - Link - Report abuse 0Soon the facade will fall. The maggots will be exposed.
Let in the sunlight. It's the best disinfectant.
CFK is nothing but a filthy liar. She lies whenever she needs to. I think someone, probably the NYC lawyers told her to keep her mouth shut and sound conciliatory in every speech.
Jun 21st, 2014 - 10:47 am - Link - Report abuse 0USA judges don't set conditions, the judgement is done, she's got it in writing. IF NML wants to take less that is their business and the Judge will not interfere. He will protect NML and with Argentina being a scofflaw the preconditioning will be TIGHT. There will be no wiggle room for them to get out of paying.
NML is tracking YPF assets, I guess those will be the first seizures.
Overall inflation is about 40% with food and medicine tracking much higher. Peso is 12+.
They are in recession
Its cold
All I want is a blackout in BA, a long blackout and maybe a little light rain.
Then we'll start having fun.
“....Latin America's No. 3 economy...”
Jun 21st, 2014 - 11:13 am - Link - Report abuse 0Was!
Now 4th behind Colombia.
@ 7 yankeeboy
Jun 21st, 2014 - 11:34 am - Link - Report abuse 0Never forget she can flutter those (false) eyelashes at the Judge!
Ha, ha, ha.
“...“we want to pay 100% of creditors”...” said who?
Jun 21st, 2014 - 11:41 am - Link - Report abuse 0cfk? an acronym of a professional liar and crook. forget it!
10. They want to pay them BUT they want to pay them what THEY want to pay them not what is required.
Jun 21st, 2014 - 11:57 am - Link - Report abuse 09. The Elvis wannabe will be doing the negotiations and I imagine it will go much like they did at IDB a couple months ago. Bang on the table, scream, cry and then storm out when he's politely shown Griesa's judgement.
Yankeeboy
Jun 21st, 2014 - 12:25 pm - Link - Report abuse 0You know that I know that, every normal person knows it.
These people have been fed on BS for so long, their brains have turned to it.
Where are all the latam know-alls that said argieland would NEVER pay? Perhaps they could explain how “argieland will never pay” and “we want to pay 100% of creditors” mean the same thing! Tax increases soon, do you think? It's only about US$575 per member of the population. About US$2,300 (18,700 pesos).
Jun 21st, 2014 - 12:26 pm - Link - Report abuse 0Trolley Puncher or whatever his latest monicker is stated repeatedly, (on behalf of the whole nation, no less), that Argentina would never pay.
Jun 21st, 2014 - 12:46 pm - Link - Report abuse 0where is he now?
@14 Working on his plan for world domination? He has threatened us with it a couple of times. The last attempt was thwarted when his co-conspirators cut him out of the deal (for being too bonkers even for them, I suspect). More likely he was grounded that night.
Jun 21st, 2014 - 01:35 pm - Link - Report abuse 0yankeeboy Fred
Jun 21st, 2014 - 01:57 pm - Link - Report abuse 0Why hasn’t Argentina collapsed yet as you predict?
You keep getting older and mas boludo.
The whole world would be very pleased, if this since 2002 ongoing NIGHTMARE-DEFAULT finally had been finished!
Jun 21st, 2014 - 02:09 pm - Link - Report abuse 0Under 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.
HOW COULD BE THE CONDITIONS FOR THE REPAYMENT?
Argentina owes to today about 230% to the Holdouts (since 2002 Argentina has not repaid anything to the holdouts)
Possibilities e.g.:
1,
Argentina (or investment banks, funds) make a buyback offer in cash of about 130-140% to 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%)
2,
- at the latest, on 02/01/2015 (end of RUFO clause) Argentina would repay in CASH 100% of the nominal value of the defaulted bonds, which became due before 2015.
- For the accrued interest between 2002-2015, Argentina would emit new bonds with about 50% discount, and with a maturity of 5-7 years.
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.
By every definition it is collapsing. 40% inflation, worst performing currency in the world, recession, little to no reserves, falling exports only mindless Kidiots think all is well and those numbers are decreasing very quickly.
Jun 21st, 2014 - 02:10 pm - Link - Report abuse 0I think Marcos is getting over excited. Yankeeboy didn't predict the collapse of Argentina, just yet. He did however predict the outcome of SCOTUS ruling and that Argentina would be facing a default. He was right. I think Marcos should be stockpiling sugar and flour rather than wasting time on here. Soon there will only be sparse internet in Argentina and when the electicity shortages come.... ouch!
Jun 21st, 2014 - 02:13 pm - Link - Report abuse 0Tick tock..... 30 days to pay Mr. Singer ....
He lives in the UK. So what ever happens back in his beloved Argentina does not and will not affect him.
Jun 21st, 2014 - 02:20 pm - Link - Report abuse 0The day Soy bean falls to 300 USD that is the day that Argentina collapses completely.
Jun 21st, 2014 - 02:27 pm - Link - Report abuse 0Marcos=Think
Jun 21st, 2014 - 02:32 pm - Link - Report abuse 0They're always on at the exact same time.
Think uses that persona to attack
Argentina need U$ to buy gen seed from Monsanto. That will be more of a problem in the short term than Soy dropping to $300. BTW with inflation so much it may be unprofitable next year to plant. I guess it depends on how much they devalue by then tho.
Cost of implantation are measured in US$ not in pesos. The resistance weeds are demanding ever more applications of herbicides and that is the component of cost that has increased the most.... Seed is about 30 U$S for the last 6 years or so iits remained there. Herbicides have gone up US$ 25- 40 per ha in 2006 to US$85 in a clean ha to about 200 US $ in a dirty weed resistant ha.
Jun 21st, 2014 - 02:48 pm - Link - Report abuse 0Land rents are dropping too
I hear there a bothersome little weevil they are worrying about too.
Jun 21st, 2014 - 02:56 pm - Link - Report abuse 0I think the biggest most dangerous weevil bug is sitting in Balcarce 50
Jun 21st, 2014 - 03:13 pm - Link - Report abuse 0A bit like Hepatia/British Bomber... they all need multiple personas because their own is so weak...
Jun 21st, 2014 - 03:28 pm - Link - Report abuse 0Bit sad really.
16 Mike
Jun 21st, 2014 - 04:48 pm - Link - Report abuse 0In order to answer your question I think we'd need to first define “collapse”. It's all relative I suppose but if I was living in a country in the state Argentina is in (never having been in such a state of turmoil apart from when Argentina tried to take over 32 years ago) I would say we were near collapse.
Don't pay those vultures anything Crissy!
Next up on tRolling_Stone_FM:
Jun 21st, 2014 - 06:42 pm - Link - Report abuse 0I fought the law and the law won.
”WE SHALL PAY 100% OF ALL CREDITORS, MY PEOPLE .... (aside) but we will get away with no more than 30 cents on the dollar.“
Jun 21st, 2014 - 07:04 pm - Link - Report abuse 0”But surely that means that 100% of people who lent us all that money will lose 70% of everything they lent us! And surely they expect some interest on their loan!“
”Oh, don't be a spoilsport, everybody will get something ... eventually... possibly”
@28
Jun 21st, 2014 - 09:07 pm - Link - Report abuse 0Coolest post ever on Mercopress. Respect!
Should go down in history.
28Condorito
Jun 21st, 2014 - 09:13 pm - Link - Report abuse 0Like Ilsen said, great post you cheeky little bird!
Come on Toby, where are you?
Toby, Toby!
Jun 21st, 2014 - 11:03 pm - Link - Report abuse 0Don't be shy!
Tell us all about the Won't Pay thing you had going on.
;-)
Looking like the Argies will pay all bond holders on the same rate. The holdouts ate not going to like tjos because of the Wall St robber barons who should be in gaol for the great recession my grandmother is going to miss the next payment
Jun 22nd, 2014 - 05:42 am - Link - Report abuse 0Tell your grandmother to suck it up Hepatia/British bomber.
Jun 22nd, 2014 - 06:19 am - Link - Report abuse 0That will teach her for trusting the Argentine government.
Honestly no one cares about your grandmother. It doesn't out a personal spin on this saga. All it shows is that you've run out of comebacks now that things aren't going Argentina's way.
at 34
Jun 22nd, 2014 - 07:38 am - Link - Report abuse 0I don't care aabout Argentinas way I care about my grandmotheryou wall dt bankers do not care about people
Hepatia, why do you need two screen names?
Jun 22nd, 2014 - 07:53 am - Link - Report abuse 0British bomber/Hepatia
Jun 22nd, 2014 - 09:28 am - Link - Report abuse 0Your grandmother is stupid. She was ignorant and dumb enough to invest money in something that failed.
Perhaps if you worked harder instead of wasting your limited talents on here, she might not have to worry about it.
at 37
Jun 22nd, 2014 - 09:50 am - Link - Report abuse 0my grandmother saved to proviy for her retirement. why is she stupid itd the wall st robber barons that are stupid they should be in gaol for what they're did in 2007 we are the 93% what is Hitachi magic
@37
Jun 22nd, 2014 - 10:34 am - Link - Report abuse 0So if your mother was not stupid, what about all those other people who invested in Argentina and then Argentina stole most of their money ?
“... in 2007 we are the 93% what is Hitachi magic”
Jun 22nd, 2014 - 12:15 pm - Link - Report abuse 0What The Actual F@ck is that?
Has someone stolen her medication? Jeez. . either that or she needs a trip to the Tool Shop. (In order to get a grip, obviously :-)
Cristina Fernandez calls for negotiations: “we want to pay 100% of creditors
Jun 22nd, 2014 - 04:52 pm - Link - Report abuse 0m
So where's the problem then,
just pay them and stop moaning..
Your grandmother can probably join the class actions suit to get her original funds back as soon as Arg makes a deal with Singer.
Jun 22nd, 2014 - 05:04 pm - Link - Report abuse 0This is far from over.
Argentina will eventually have to go through an IMF restructuring. If they're lucky in another decade or so they'll be back on track and prosperous.
at 42
Jun 22nd, 2014 - 11:59 pm - Link - Report abuse 0but my grandmother is an old woman she does not have time for a trial.the Argies will not make a deal with singer he will wantwho went and 30% moremy grandmother does not get paid. The Wall Street Robert Barron singer. cigarette is getting paid my grandmothers money
@37
Jun 23rd, 2014 - 02:51 am - Link - Report abuse 0Why do you tell that to an old poor grandmother but not to Singer??
Classist?
44. Apparently she invested a large percentage of her wealth and bought at full price.
Jun 23rd, 2014 - 11:38 am - Link - Report abuse 0He did neither
He is brilliant, that's why he is a billionaire and she is going to starve.
Because that grandmother is about as real as CFK is poor.
Jun 23rd, 2014 - 12:14 pm - Link - Report abuse 0at 45
Jun 23rd, 2014 - 01:35 pm - Link - Report abuse 0Where did you get that from I never said that. You should check it out singer is the wall st robber baron and he is stupid honest people are not
47. I know who Singer is and there's no such thing as robber barons any longer.
Jun 23rd, 2014 - 01:39 pm - Link - Report abuse 0He's obviously pretty darn smart if he's a billionaire by his own right.
He's also donates a HUGE amount to charity.
Overall he's I bet he's a pretty nice guy.
Hang on a mo! the RG's rob your nan of her hard earned savings and you morph Singer into the Boogie man.
Jun 23rd, 2014 - 02:06 pm - Link - Report abuse 0Interesting!
@47 You told us your fictional grandmother lives in England. She has all the benefits of the welfare state at hand, free travel and healthcare. Don't cry for her, think of the poor elderly buggers in Argentina that have been robbed by their government.
Jun 23rd, 2014 - 02:16 pm - Link - Report abuse 0at 48
Jun 23rd, 2014 - 03:22 pm - Link - Report abuse 0Yes there is they are the Wall St robber barons who stole from the middle class in 2006 singer is one of them. Should be in gaol now he's taking my grandmother's money
@51
Jun 23rd, 2014 - 03:53 pm - Link - Report abuse 0It is the Argentinian Government to blame, they borrowed the money, Tell me where did the money go? Certainly not to improve the Argentinian state.
Cristina Fernandez also insisted that in Argentina ”what abounds is good faith and we have shown this by taking responsibility over debts. So Argentines, don't let anybody scare you“.
Jun 23rd, 2014 - 06:47 pm - Link - Report abuse 0This is bloody hilarious .....“What abounds in Argentina is good faith” ?? if so, haven't seen any of it coming from CFK....her idea of 'good faith' : “this is what I want, these are my conditions, there is no debate” !
I can't believe the attitude of BB.
Jun 23rd, 2014 - 07:19 pm - Link - Report abuse 0They defraud his nan of 75% and he chases his tail like a little lapdog when they begrudgingly pay her back a pittance.
He's either a RG Persona or is suffering from a classic case of Stockholm Syndrome.
at 54
Jun 24th, 2014 - 05:28 am - Link - Report abuse 0Hello! Wakey wakey the Argies have been paying my grandmother regularly for years. Now be a cause of robber baron singer that is stopping so he can get all the money. Singer is trying to defraud my grandmother of 100%
ARGENTINA
Jun 24th, 2014 - 06:19 am - Link - Report abuse 0HAS
NOT
STOPPED
PAYING
55. You are frighteningly stupid.
Jun 24th, 2014 - 10:47 am - Link - Report abuse 0@56
Jun 24th, 2014 - 01:59 pm - Link - Report abuse 0Yes it has. It has been forced to.
They are promising to pay the 93% though.
58 they are paying granny 23% of all the money grandma gave them. Does it not bother you at all that she lost 77% of what she gave them? You ignore the reality of what she lost!!!!!
Jun 24th, 2014 - 03:10 pm - Link - Report abuse 0@58
Jun 24th, 2014 - 03:40 pm - Link - Report abuse 0you and your gran are either stupid or nieve to say the least. If you don't understand I will spell it out for you. WHO IN THEIR RIGHT MINDS WOULD TRUST ARGENTINIAN GOVERNMENT only the stupid or nieve.
@59
Jun 24th, 2014 - 03:52 pm - Link - Report abuse 0Not true. They have been paying 100% on time. That now stops because of robber baron Singer. He should have been put in gaol in 2006.
is mightily amused. !!!!
Jun 24th, 2014 - 07:13 pm - Link - Report abuse 0If Hepatia's grandmother really exists, why is she in Britain, and why isn't she at home in Argentina?
Hepatia/british bomber is starting to sound very famiilar. Anyone else think the same?
IMO perhaps there are only two trolls on here with many screen names?
Does anyone remember that Mendocinovino threatened to “destroy” me and have me banned from this site? What happened to Keith York et al?
That's all gone a bit quiet.
Stevie Bedwettter, you must try harder!
Bhaaahahaha!
Love from
Mr/Mrs/Ms Ilsen
hahaha1
Argentina will make the payment and then British bomber can go back to claiming the Falkland Islands will be part of Argentina in 25 years.
Jun 24th, 2014 - 10:52 pm - Link - Report abuse 0One dimensional posters never last long.
at 62
Jun 25th, 2014 - 06:50 am - Link - Report abuse 0What's hepatia my grandmother lives in hull uk you are cruel to laugh at an old women who is being robbed by wall street bankers
It's alright!
Jun 25th, 2014 - 02:12 pm - Link - Report abuse 0I'm sure your grandmother will be returned to Argentina in the next 25 years.
@65
Jun 25th, 2014 - 09:55 pm - Link - Report abuse 0Bhaaahahaha! !
probably in a casket and a flight paid for out of my tax!
You truly are ignorant to not know that your fake grandmother was only given 23% of the 100% she invested meaning she lost 77 dollars for every 100 dollars invested. That is the Argentine haircut..........they magically made 77% of the investors money disappear.
Jun 25th, 2014 - 10:16 pm - Link - Report abuse 0Commenting for this story is now closed.
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