MercoPress. South Atlantic News Agency
Leading holdout hedge fund willing to give Argentina more time to negotiate
Elliott Management portfolio manager Jay Newman has revealed that the holdout hedge fund would be willing to give the Argentine government more time to negotiate following the nation's reverse in the US Supreme Court, while criticizing Economy minister Axel Kicillof for not meeting with the so-called 'vulture funds'. Read full article
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Disclaimer & comment rules“But the silence from Argentina is deafening. It does not appear serious about reaching a timely resolution of its debts”.
Jul 08th, 2014 - 10:46 am - Link - Report abuse 0TMBOA and her crooks are scared shitless by Singer as are most of the argies on MP. They dare not talk to the “Vultures” in case they are seen for what they are by the people of The Dark Country, weak and feckless.
““Two weeks ago [Kicillof] flew to New York to give an inflammatory speech at the UN in which he blamed bondholders and the US legal system for his country's supposed inability to settle debts owed to thousands of investors,” Newman fired.
“Our offices are a 10 minute drive from UN headquarters, yet Mr. Kicillof flew home without even talking to us.””
Oh yes, NML et al have got the measure of Kickitoff alright. And he's the new hope for TMBOA! I think the noose is coming on the horizon for her and a number of her minions.
All they have to do is set up an escrow agreement in NYC under US law for the total due to all the holdouts.
Jul 08th, 2014 - 12:08 pm - Link - Report abuse 0It is very simple.
I wonder why they won't do it?
When I read this yesterday it confirmed once again that the Hedge Fund are open to negotiation. Contrary to the statements made by the Argentine government.
Jul 08th, 2014 - 12:12 pm - Link - Report abuse 0NML had to push this to the final point because of the childish nature of the Argentine government. This could have been negotiated away a long time ago but gobby CFK just had to grandstand and make egotistical statements about 'never paying', which the home crowd loved. Then there were the insults about the judge, the PR campaign of being the victim, and the whining to everyone who would listen; none of whom are prepared to help Argentina.
Now they have sent a boy to do a man's job. Kicillof is woefully unqualified to deal with this appalling situation that will affect the Argentine population for generations. If he had any cojones he would face the NML team, eat shit and accept the unnecessarily generous offer from them to negotiate. There is a deal to be done.
http://www.bloomberg.com/video/can-argentina-prevent-a-debt-debacle-L7H33Yz7TJeuzmeom7CTBA.html
Jul 08th, 2014 - 12:28 pm - Link - Report abuse 0Is the rumour correct that Kicillof is threatening to take this to the ICJ?
Jul 08th, 2014 - 12:37 pm - Link - Report abuse 05. The ICJ has no jurisdiction. This is a private matter over a contract governed under NY law.
Jul 08th, 2014 - 12:59 pm - Link - Report abuse 0They need to understand what losing means.
@5 and 6
Jul 08th, 2014 - 01:07 pm - Link - Report abuse 0Also, any ICJ ruling that are not complied with are referred to the Security council for enforcement at which point a veto comes in very useful.
Elaine, you could be being unfair on Kicillof. He has been making an effort to normalise the situation. A tough job given the situation and his bipolar boss.
7. The only reason they've tried to “normalize” relationships with the Int'l financial community is because they need the IDB and WB to disburse funds. They “were lead to believe” that if they did that the USA would take off its hold.
Jul 08th, 2014 - 01:22 pm - Link - Report abuse 0They were wrong.
Well played USA.
Maybe they shouldn't have boarded our jet.
Pay back is a b*tch.
@5
Jul 08th, 2014 - 01:40 pm - Link - Report abuse 0Can't help but wonder if they will do anything out of desperation to kick it down the road to avoid implications of RUFO clause.
23 weeks, so near - yet so far..
@7 Not really unfair. I have posted here before that he has made steps entirely adverse to his Marxist-loving reputation. CFK is one person and the entire country's future is at stake. He should man up and face the winners of this dispute. Let her rant and rave, she is barking mad anyway.
Jul 08th, 2014 - 01:54 pm - Link - Report abuse 0@8 yankeeboy
Jul 08th, 2014 - 02:03 pm - Link - Report abuse 0I agree with that, but Kicillof wasn't in a position of authority during any of that.
From his actions he is clearly trying to move Argentina in from the cold. Put yourself in his position - he has to demonstrate to the financial markets and other governments that Argentina is going to honour its commitments and can be invested in whilst maintaining the rhetoric for the domestic audience that Argentina is a victim of global capitalism and will never be cowed by the NY courts, vultures, etc.
Not an easy job.
@10 Elaine
He would surely lose his job were he to do that.
11. Time will tell, I would bet that Argentina reneges on the recent deals they crafted with the PC. The timing of payments puts a further strain on thier already tight finances. I think they are assuming they'll pay with newly issued credit. I don't think that will happen. I think they'll pay and then the credits won't happen so they'll miss the subsequent payments.
Jul 08th, 2014 - 02:09 pm - Link - Report abuse 0Argentina is not trustworthy, Elvis Austral isn't changing 75 yrs of history in his brief tenure.
I also don't think he is nearly as smart as he thinks he is.
Although he may be the smartest of the Ks.
But that's not saying much
Being the smartest monkey in the zoo is still a monkey.
We'll let the nut twist the tail!
Jul 08th, 2014 - 02:20 pm - Link - Report abuse 0Argentina should not submit to dictators of the United States or anyone else.
“Fight for Freedom”
@11 He is going to lose his job anyway. The people around CFK should be outing her and thinking beyond the final few months of her reign.
Jul 08th, 2014 - 02:27 pm - Link - Report abuse 0@13 Yes, Argentines should listen to no one!!!
It takes 'flaunting orders' to a whole new level when an Argentine Aerolineas pilot decides to ignore the instructions of Air Traffic Control at Barcelona and refuses to wait until another plane lands before crossing the runway. A disaster was narrowly avoided by the pilot of the plane due to land.
Where were you on the collapsed bridge thread?
13. Brazil should float them a short term loan of 30-40 Billion U$. So they can recapitalize.
Jul 08th, 2014 - 02:50 pm - Link - Report abuse 0That would be the brotherly thing to do.
Bahahahaha
BRIC Bank will do this. Argentina was invited to listen.
Jul 08th, 2014 - 03:08 pm - Link - Report abuse 0Of course they will, how would you lie the money sir, 100's, 50's or 10's!
Jul 08th, 2014 - 03:24 pm - Link - Report abuse 0I guess Argentina miss Chavez at this point. He used to send them mucho dinero. How much do they owe Venezuela?
Jul 08th, 2014 - 03:51 pm - Link - Report abuse 016.
Jul 08th, 2014 - 04:22 pm - Link - Report abuse 0You know what the irony is Brass.... There is a K speculation that BRICS will throw CFK a life jacket in the next days. The invitation of the BRICS to Fortaleza was an open one by Putin that Argentina overreacted and interpreted as a formal invitation to join in the group. Irony with this is that Dilma doesn’t want Argentina anywhere near BRICS, as it undermines her image and Argentina can compete with Brazil for infrastructure projects.
They are trying to promote this as a new Breton Woods and new IMF under a basket of BRIC currencies that will overthrow western dominance in financial world and the US dollar supremacy…
And guess who will be the first one in line to ask for loans in the New world order. LOL
(19) Caradura
Jul 08th, 2014 - 05:22 pm - Link - Report abuse 0It spells “Bretton” Woods, not “Breton”....
And, by the way, it's spelled “sense”, not “sence”....
16. So a bank that doesn't exist is going to loan Argentina the U$30B it needs?
Jul 08th, 2014 - 05:36 pm - Link - Report abuse 0You are a retard.
If it ever gets off the ground (doubtful) I am sure it will be just as successful as Chavez's Bank of the South.
20
Jul 08th, 2014 - 05:43 pm - Link - Report abuse 0Congrats Think ...You get a cookie for each miss spell you find. Not that you have anything accurate/point/logical/interesting to say or rebate with ever.
Dont worry. She still has La vecindad del Chavo del 8 to help her
http://i.imgur.com/0Jf8Qxq.jpg
CFK can still tweet from her sick bed linking an article once again insulting the hedge fund. Can't they break her fingers?
Jul 08th, 2014 - 05:56 pm - Link - Report abuse 0(22) Caradura
Jul 08th, 2014 - 05:57 pm - Link - Report abuse 0Yeahhhh.... Whatever......
But please stop typing “sence” in every second post of yours....
And “sence” when did I care here about my spelling??
Jul 08th, 2014 - 06:16 pm - Link - Report abuse 0(25) Caradura
Jul 08th, 2014 - 06:45 pm - Link - Report abuse 0We all know that you are a tough little Argie cookie that doesen't care about nothin'.....
But some of us do care....
Take care...
Construction, Real Estate Sales, Moto sales, Car sales, Restaurant sales, Electronics sales...all down again. Severely.
Jul 08th, 2014 - 07:20 pm - Link - Report abuse 0u$3-5B in retaliation estimated from WTO failures
And this is before the next default and the massive devaluation that is coming.
Hello 1989! They've missed you.
Bahahaha
@25
Jul 08th, 2014 - 07:42 pm - Link - Report abuse 0Not to worry - it's more important to get your millions and billions right. Perhaps that's been the problem in Argieland - a sort of fiscal dyslexia ; )
http://en.mercopress.com/2014/07/05/the-economist-on-argentina-the-luis-suarez-of-international-finance#comment336732
@14
It takes 'flaunting orders' to a whole new level when an Argentine Aerolineas pilot decides to ignore the instructions of Air Traffic Control at Barcelona and refuses to wait until another plane lands before crossing the runway.”
Last I heard was that the incident was referred to the Commission of Investigation of Accidents and Incidents of Civil Aviation (CIAIAC).
http://en.mercopress.com/2014/07/05/the-economist-on-argentina-the-luis-suarez-of-international-finance#comment336732
One press report quoting Russian pilot states Air Traffic Control to blame.
http://en.mercopress.com/2014/07/05/the-economist-on-argentina-the-luis-suarez-of-international-finance#comment336732
@11 You are 100% correct.
Jul 08th, 2014 - 07:43 pm - Link - Report abuse 0Kristina is the problem here and I am certain Axel would be able to put together some kind of deal to keep everyone happy.
I am sure Axel would like nothing better than to smack that crazy old bag in the mouth. She is just making his job 100x harder.
29. He's too afraid to talk to the only people who hold the cards. Talking 5 hours with a mediator will do absolutely nothing. He has no authority to negotiate nor change the judgement.
Jul 08th, 2014 - 07:50 pm - Link - Report abuse 0Plus that letter he just put out was an embarrassment. I hope he is on a diplomatic passport because he could be held in contempt of court.
CFK is finished. Mad and bad. Deeply unpopular both with the public and the people around her. Anyone standing up to her and putting the country before her twisted pride might end up a hero. Just an idea.
Jul 08th, 2014 - 08:37 pm - Link - Report abuse 0My Argentine friends are convinced they will win the World Cup now Brazil are being slaughtered by the Germans. I wouldn't begrudge them the joy. The celebration party would be epic.
Pardon me but your mates have to be on drugs.... ArgenFIFA will piss its pants against This Germany. If it gets there that is. Brazil was far more accessible than Germany.
Jul 08th, 2014 - 09:11 pm - Link - Report abuse 0A most of the result is psychological and that the Brazilian t-shirt must be made of lead because they seem weight a tone on the local players from the first match against Croacia. But Germany is plain simple perfection
LOL! I am not sure about drugs but I suspect they are having a few drinks. I never said they were sane, they are from Buenos Aires. :)
Jul 08th, 2014 - 09:15 pm - Link - Report abuse 0I agree Germany have looked strong from the start of the competition and just get better.
Brazilian riots starting in 3,2,1 .......
Jul 08th, 2014 - 09:51 pm - Link - Report abuse 0@34 I suspect the riot police were in position after the first 30 minutes of the game. Let's hope people keep their heads.
Jul 08th, 2014 - 10:04 pm - Link - Report abuse 035... The Brazzie cops HQ in Belo Horizonte are to busy taking in the testimony of 11 cases of rape victims at the moment. Count them out
Jul 08th, 2014 - 10:16 pm - Link - Report abuse 0Pmsl at that one.
Jul 08th, 2014 - 10:20 pm - Link - Report abuse 07-1. Be honest, who the hell saw that coming!
I dont know if he knew before hand but Neymar must be very thankful to Zuñiga that he was spared of taking any responsability and any part of what happened today.
Jul 08th, 2014 - 11:13 pm - Link - Report abuse 0@36 lol
Jul 08th, 2014 - 11:28 pm - Link - Report abuse 0Not even Nohaymar (Evo's favorite player) could have saved the day.
LOL, here in Mercopress many envy your number 4..... Isla
Jul 08th, 2014 - 11:56 pm - Link - Report abuse 0Tell those crusty old fools to wait till world cup is over.
Jul 09th, 2014 - 11:17 pm - Link - Report abuse 0If Argentina gets it's way we will have the entire Argentinean football team kick Singer in the face (with boots on).
wooooo hooo Time to party !!!!!
41. Nobody in the USA is watching The World Cup, well not nobody, immigrants and poor people are probably watching.
Jul 10th, 2014 - 11:06 am - Link - Report abuse 0Yesterday Griesa denied changing the judgement. I guess Elvis Austral will actually have to talk to NML if he is serious about negotiating.
@42
Jul 10th, 2014 - 03:23 pm - Link - Report abuse 0That's a very sweeping statement, why do you think immigrants and poor people are watching are the only people watching, you would know that as a fact? How?
http://www.theatlantic.com/business/archive/2014/02/which-sports-have-the-whitest-richest-oldest-fans/283626/
Jul 10th, 2014 - 03:49 pm - Link - Report abuse 0Major League Soccer has the highest share of Hispanics by far (34 percent; second is the NBA at 12 percent) and the lowest income of any major sports audience. Nearly 40 percent of its fans make less than $40k.
Quite ironic how you claim Nobody in the USA is watching The World Cup, well not nobody, immigrants and poor people are probably watching.
Jul 10th, 2014 - 06:49 pm - Link - Report abuse 0Well it is despicable 1%ers like Singer who keep millions of people poor so they can live a life of squander.
The P.O.S has billions and could retire and live a happy life, but is so hell bent on making money off poor countries.
What does he actually produce or a service people use? Nothing !!!
He should be publicly whipped for his business ethics.
He has the moral ethics of a rattlesnake.
He ensures that the bond markets function so deadbeat scofflaw country's can sell their bonds.
Jul 10th, 2014 - 08:21 pm - Link - Report abuse 0It's not his fault most of it ends up in a number bank account of the elected officials.
Don't be mad at him be mad at your corrupt and inept government for getting you into this mess.
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