MercoPress. South Atlantic News Agency
Argentina will only negotiate with all bondholders: no more piecemeal debt talks
Argentina's government ruled out further piecemeal debt talks with a small group of U.S. hedge funds (holdouts) and said the country needed to strike a deal with all bondholders including those which have rejected past restructuring agreements as a single group. Read full article
Comments
Disclaimer & comment ruleszannini: “The main aim of the draft bill is to show that Arg can pay its debt and wants to pay its debt,” ... Carlos Zannini told...”
Aug 29th, 2014 - 08:06 am - Link - Report abuse 0YES, with 80 % loss and no interest for the lost 12 years of 2 defaults. Crazy, stupid, outrageous!
Rotting roadkill, your position is not longer relevant. Spin all you want. Singer is now driving the boat.
Aug 29th, 2014 - 08:25 am - Link - Report abuse 0They wouldn't need to negotiate with anyone if they simply paid their debts, and if the Court orders them to pay, then they must pay or face the consequences. It's all so simple really, only a politician could think it complicated.
Aug 29th, 2014 - 09:43 am - Link - Report abuse 0I suppose this is argieland trying to be “clever”. “Negotiate” with all the bondholders and face the holdouts with those that have been ripped off. Trouble is that there's the small matter of a court order. Court orders don't go away. Money markets also have long memories. How long before THEY forget that argieland's most notable actions are ripping off thousands of bondholders and ignoring court orders.
Aug 29th, 2014 - 09:45 am - Link - Report abuse 0Their arrogance makes them stupid.
Aug 29th, 2014 - 12:17 pm - Link - Report abuse 0All of this mess was self created.
They are doomed
“Zannini said the long-term plan was to bring all Argentina's sovereign debt under Argentine law”
Aug 29th, 2014 - 02:38 pm - Link - Report abuse 0I am afraid that Argentina will find it extraordinarily difficult to find as many as two investors who are so stupid as to risk their investment under Argentine law - but perhaps by “long-term plan” Zannini means 'several millennia'?
Comment removed by the editor.
Aug 29th, 2014 - 02:50 pm - Link - Report abuse 0#7
Aug 29th, 2014 - 03:16 pm - Link - Report abuse 0Or they could do nothing....
Oh yes, really a stupid idea, but remember who's making the decisions...
@7. Let's approach this sensibly. FIRST of all, this is to be the one and only time you post this. I am sure that I, and others, will register it as abuse if you repeat it.
Aug 29th, 2014 - 04:16 pm - Link - Report abuse 0Now let's deal with the “possibilities” that you raise as a “solution.
Not ONCE in 200 years has argieland done ”anything“ in good faith. As ”justification“ for its illicit claim to the Falkland Islands, it has quoted a 1493 papal bull that the Holy See has rejected. It likes to claim that the Islands are ”inherited“ from Spain. Although such a means of acquiring territory has NEVER been recognised in international law. That isn't ”not currently recognised“. It's NEVER been recognised. It likes to wave around 40 UN GA resolutions. But UN GA resolutions are NOT BINDING. Read the argie ”constitution“. NOTHING can be expropriated without prior agreed compensation. Tell that to Repsol!
So there goes your ”good faith“ proposition.
The RUFO clause does NOT apply. It would apply if argieland VOLUNTARILY made an offer. It does NOT apply when argieland is forced by order of a court. Still thinking about ”good faith“?
Nobody with half a brain is really interested in more worthless argie bonds.
Now, I estimate that argieland owes NML et al around US$2.3 billion. Good faith? Pay it. Let the weasels who took a 70% ”haircut” fight their own battles with argieland. I assume you're one of them. If you don't like the deal, get a lawyer. You never know, in around 12 years you might be in the same position NML etc is in today.
Now you've had your (pointless) say. Keep quiet unless you have something new and useful to say.
“9 Conqueror
Aug 29th, 2014 - 06:49 pm - Link - Report abuse 0”As ”justification“ for its illicit claim to the Falkland Islands, it has quoted a 1493 papal bull that the Holy See has rejected.“
Not only that, but if the bull were to have some sort of godly blessing through the Pope-chap, then it clearly says ”Spain“ and DEFINITELY NOT Argentina. To ”inherit” the Falkland Islands would be theft (check the 10 commandments) and one would expect theft to be severely punished by the catholic deity ...
Hm, come to think about it - aren't the attack from the “vulture funds” and the Argentine default a punishment? ...
If I were Argentino, I would wear a helmet at all times, and keep a sharp outlook for fire and brimstone falling from the sky.
# 10 Don Alberto
Aug 30th, 2014 - 07:14 am - Link - Report abuse 0Yes, good post!
They have sown the wind, now let them “inherit” the whirlwind.” The world has a way of correcting situations that are out of control. If Argentina cannot manage its affairs, then external forces will be exerted to correct this.
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