Argentina/holdouts impasse remains; delegation back to Buenos Aires for instructions.

Saturday, July 26th 2014 - 06:36 UTC

Full article 9 comments

Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors in New York on Friday in talks that lasted just an hour. The Argentine delegation is flying back to seek instructions from its government, mediator Daniel Pollack said, while the country's economy ministry underscored it would continue the dialogue with him over the next few days. Read full article

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Jay Bee
Pollack refers to the default date (July 30) as if that is now the only likely outcome. Challenges from creditors could amount to up to 400 billion. What a disaster this is.

The UK faces it's challenges also but this puts things into perspective.
Jul 26th, 2014 - 07:04 am - Link - Report abuse 0
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Conqueror
Argieland only has to PAY!
Jul 26th, 2014 - 09:11 am - Link - Report abuse 0
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golfcronie
I think it is fairly straightforward, you borrow money with an interest rate and then you start paying it back.Not rocket science is it? Why blame the holdouts, Argentina borrowed the money now time to pay back. SIMPLES
Jul 26th, 2014 - 01:53 pm - Link - Report abuse 0
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Don Alberto
@ 1 Jay Bee

to Argentina a default is all in a days work. If the country defaults yet again it will be their no. 8
Jul 26th, 2014 - 02:56 pm - Link - Report abuse 0
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BOTINHO
In other words:

No Progress in Argentina Debt due to Argentine unwillingness and stalling.
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Attorney Daniel Pollack said that he has repeatedly proposed “face-to-face” talks between both parties.

The representatives of the bondholders were agreeable to direct talks; the representatives of (Argentina) declined to engage in direct talks”

The Argentine government portrays the holdout funds as “vultures.”

Actually the Urubus as we call them here, or “vultures, ”are now circling over the Casa Rosada, if not greater Argentina.
Jul 26th, 2014 - 05:27 pm - Link - Report abuse 0
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tallison46
The instructions should be negotiate and find a solution or get ready for big problems...
Jul 26th, 2014 - 06:23 pm - Link - Report abuse 0
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Briton
Pay pay pay,
its that simple...lol
Jul 26th, 2014 - 06:29 pm - Link - Report abuse 0
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MagnusMaster
These negotiations are an act. Pollack told cfk to put a warranty in cash, she refused as her legal team believes that would trigger rufo. It's up to the holdouts to choose between a stay or default
Jul 26th, 2014 - 08:39 pm - Link - Report abuse 0
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tallison46
Argentina has a great incentive to pay, CFK has none.....
Jul 26th, 2014 - 10:43 pm - Link - Report abuse 0
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