MercoPress. South Atlantic News Agency
Argentina says creditors willing to swap bonds; holdouts warn about “contempt of court”
Argentina's Cabinet Chief Jorge Capitanich said on Friday that “many” creditors are willing to accept a change in payment location to collect their money as the ongoing legal dispute with the holdouts continues to endanger the country's international credit and reputation. Read full article
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Disclaimer & comment rulesWriggle, wriggle like a worm exposed to sunlight.
Sep 06th, 2014 - 03:41 am - Link - Report abuse 0“Argentina's Cabinet Chief Jorge Capitanich said on Friday that “many” creditors are willing to accept a change in payment location ”
But who? No public statements I can find.
“There were 9.000 judicial actions at international level” revealed Capitanich ”
hmmm........
Anyone considered WHY?
Hubris will be the Killer for Elvis and Cristina. They have got this badly wrong.
Cfk is just biding for time now, trying to hide her ill-gotten millions and avoid getting busted before she leaves power. Then it'll be someone else's mess and they'll probably make a deal with the holdouts, who'll then stop chasing the kirchner money trail.
Sep 06th, 2014 - 04:13 am - Link - Report abuse 0I hope they get to her money first so she can face justice for her corruption, and blacken the kirchner name for good so more talk of a k dynasty.
@2
Sep 06th, 2014 - 05:03 am - Link - Report abuse 0“... and blacken the kirchner name for good so more talk of a k dynasty.”
The optimum outcome for that would be for Maximo Gordo to end up like Gualberto Villaroel, but as I've said before, the problem would be finding a lamp post adequate for the purpose, they would have to use a bridge. ;)
Argentina Trumpeting Demand for Swap That May Not Exist
Sep 06th, 2014 - 10:02 am - Link - Report abuse 0http://www.bloomberg.com/news/2014-09-05/argentina-trumpeting-demand-for-swap-that-may-not-exist.html
Argentina may have some of their cronies participate in the swap, but for legitimate companies it will prove to be too risky.
Sep 06th, 2014 - 12:06 pm - Link - Report abuse 0It will be a flop.
All this is going to do it move them into a contempt of court.
I think Griesa has his best and brightest on it already thinking of ways to implement the contempt.
I also think at some point the US State Dept will have a quiet conversation with the idiots in Argentina and tell them enough is enough.
@5
Sep 06th, 2014 - 12:20 pm - Link - Report abuse 0Agreed. I am sure eventually words will be spoken behind closed doors. They are just trying to figure out a way of saving face for Cristina. No one wants another country to go belly up and cause further instability.
Has anyone else noticed how stressed out Cristina is appearing these days?
Serious pressure is being applied somewhere along the line.
Is lying just the accepted norm in Argentina? EVERYTHING this government says is a total lie, or a best a half truth. I would bet the house “many” = two argentines... But of course it will just get swept under the rug like every other lie. They have zero, zero credibility
Sep 06th, 2014 - 01:33 pm - Link - Report abuse 0It's always the same, an Argentine politician telling everyone what some one else has said but we never hear directly from the people they are quoting.
Sep 06th, 2014 - 01:51 pm - Link - Report abuse 0Cap is just posturing. He's got nothing. And we know that Singer isn't bluffing about attaching assets and compelling those interfering with his recoup efforts.
Sep 06th, 2014 - 01:57 pm - Link - Report abuse 07. One thing I've learned over the years about Rg pols is that if they all starts singing the same song, ie “of course we won't devalue” “there's is no inflation” “there are jobs' blah blah blah, it means the EXACT OPPOSITE of whatever they are saying.
Sep 06th, 2014 - 02:24 pm - Link - Report abuse 0Right now its ”we will not devalue”
Which means they're going to devalue any day now
so fun to watch from afar
Would not surprise me that Soros and Singer are not in cahoots with each other.
Sep 06th, 2014 - 02:51 pm - Link - Report abuse 0The Argentine government's stupid actions have very unpleasant and financially ruining consequences for ordinary Argentinos.
Sep 06th, 2014 - 05:30 pm - Link - Report abuse 0The province of Buenos Aires has just tried to borrow and its government had to decline an interest of 12% annually.
Lucky YPF had a loan of US$ 1 billion at “only” 8.75%.
At the same time, Bolivia issued US$ 500 million in New York, ten years maturity and an annual interest of 5.95%.
In early June Uruguay refinanced its debt of US$ 2.000 million with bonds maturing as late as 2050, at a rate of 5.1%.
Brasil did a roll over in July, a new loan of US$ 3.500 billion, of which US$ 2.000 million were rolled over until 2045, at a rate of 5.13%.
In early August Paraguay placed US$ 1 billion in 30-year bonds with a yield of 6.1%.
Interest on US sovereign bonds at 3.45%; bonds issued by the Scandinavian countries offer 0.000% - if you are lucky.
Comment removed by the editor.
Sep 06th, 2014 - 05:35 pm - Link - Report abuse 0“It will be a mistake to disclose our strategy (but) we are looking to all activities to recover our assets,” he said.
Sep 06th, 2014 - 08:04 pm - Link - Report abuse 0Cue:
https://www.youtube.com/watch?v=ZvCI-gNK_y4
:o)
anyone read this???
Sep 09th, 2014 - 11:55 pm - Link - Report abuse 0BUENOS AIRES, Sept 9 (Reuters) - A majority of Argentina's debt investors do not want to change the jurisdiction governing their bonds, Economy Minister Axel Kicillof told members of the country's Congress on Tuesday.
The South American country last month unveiled plans to make payments on its foreign held bonds locally and offer creditors the possibility of bringing their debt under Argentine law to skirt a U.S. court ruling that led to its latest default.
“It is not the wish of a majority of bondholders, as far as I know, to have a big change in the jurisdiction,” Kicillof told a number of Congressional committees.
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