MercoPress. South Atlantic News Agency
With the new bill “Argentina wants to pay, can pay and will pay all contracted debts”
Argentine President Cristina Fernández signed into law the Sovereign Debt bill, which changes the payment location of Argentine bondholders and which was approved by Congress early Thursday morning after 18 hours of debate. Read full article
Comments
Disclaimer & comment rulesAhh rotting roadkill, what if the bond holders refurse to accept your modifications to the terms of the previously issued bonds?
Sep 12th, 2014 - 07:41 am - Link - Report abuse 0Do you declare them in default?
How do you act unilaterally for a second party?
the military dictatorship said: “Those who are against the murdering of the young people who are demonstrating against us are undemocratic.”
Sep 12th, 2014 - 07:57 am - Link - Report abuse 0so they started murdering the young people. and robbed their children and gave them to sympathizers of the dictators...
capitano said: Those who vote in favor are for the defense of the country’s sovereignty and those who vote against are for vulture funds’ vested interests,” Capitanich fired...
I will laugh my ass off if they do not accept the modifications.
Sep 12th, 2014 - 09:30 am - Link - Report abuse 0#2 same meat new recipe.
“Argentina wants to pay, can pay and will pay all contracted debts”
Sep 12th, 2014 - 10:22 am - Link - Report abuse 0The following 3 Articles would indicate otherwise.
http://www.forbes.com/sites/wlf/2014/09/04/actions-speak-louder-than-words-argentina-continues-to-stiff-its-creditors/
http://www.forbes.com/sites/wlf/2014/09/04/actions-speak-louder-than-words-argentina-continues-to-stiff-its-creditors/
http://www.forbes.com/sites/wlf/2014/09/04/actions-speak-louder-than-words-argentina-continues-to-stiff-its-creditors/
The Forbes article contains an interesting summary of the BG arbitration case if anyone wants to click on the link.
Sep 12th, 2014 - 10:43 am - Link - Report abuse 0It is all Argentine SOP's nothing but smoke and mirrors and they are doing it poorly of late. If the creditors accept this illegal change they all get what they deserve. I think it is finally time(Which Griesa felt it was) to pay the piper for the dance. I think their loan days have all but ended until maybe either Messa or Macri gets in the office. What will be interesting is how they handle their debts to China. Of course I think China will give more leeway as they are in the process of rooting their claws throughout SA. However, it will be more interesting to see how long China will be lenient as western industry is in the process of leaving China in droves as they return to their homelands and also find less expensive venues in other parts of Asia. This has been happening for several years now due to logistical costs, bureaucratic quagmires and pollution levels that are riskier than a night in the Baghdad Hilton.
Sep 12th, 2014 - 11:31 am - Link - Report abuse 0Argentina wants to pay, can pay and will pay
Sep 12th, 2014 - 11:39 am - Link - Report abuse 0Then pay up, simple
Capitanich is a one trick pony. Polarization. i.e. if you don't support the government, then you are supporting the enemy of Argentina. What a tool.
Sep 12th, 2014 - 12:00 pm - Link - Report abuse 0Where's the argie slugs? What's the 'spin' this time? The position now is idealogical. “We won't pay, because we don't like you”. Let's take a look. When it pays the restructured bondholders, argieland pays 586 million dollars. The 'holdouts' want around 2 billion dollars. A bit more than 3 times as much. After TWELVE years? Can anybody do the math and explain the argie stupidity? Why is it that argies can't understand that, one way or another, they will be made to pay? As the years pass, everything argieland wants will cost more. Want LPG? Fine. This is the price. And, at the end, the bond debt remains. Still to be paid.
Sep 12th, 2014 - 12:06 pm - Link - Report abuse 0Argentina is going to force the mobile companies to pay for the 4G bandwidth in U$.
Sep 12th, 2014 - 12:32 pm - Link - Report abuse 0I thought that was illegal?
Bahahahahaha
GM Brazil shut down imports of cars to Argentina until they are paid U$2.5B for parts.
This is all rolling out like I said it would. Argentinians have seen the last new technology for a decade. Soon the avg Rg won't have the means to communicate with the outside world.
Cue mass layoffs in the Auto industry in 2015 as the plants shut down.
Soy and Corn have become unprofitable. No Soy windfall next year.
No Cars No Soy No Tourism
Their economy just died.
Yep, it is Venezuela II here at the moment.
Sep 12th, 2014 - 12:48 pm - Link - Report abuse 0Still it may workout good for me personally if I bide my time, then buy up property in the future.
11. You're much better off buying property in the USA. It is stable, you can leverage your funds and the rental income is in U$.
Sep 12th, 2014 - 01:03 pm - Link - Report abuse 0Believe me I've done the research.
There's no reason to invest in Argentina. It is a fools paradise.
With the new bill “Argentina wants to pay, can pay and will pay all contracted debts”
Sep 12th, 2014 - 01:20 pm - Link - Report abuse 0Dear President Kirchner, that would mean:
ARGENTINA MUST ALSO PAY THE “HOLDOUT BONDHOLDERS” ACCORDING TO THE AGREEMENT, THE HOLDOUTS HAVE WITH ARGENTINA!
Dear President Kirchner, is it true?
Anyone wondering why the Think persona is hiding?
Sep 12th, 2014 - 01:48 pm - Link - Report abuse 0I'm not
I wonder if he can't get his meds filled since the Pharmacies are blocking the PAMI (retirement insurance) due to outstanding invoices.
Venezuela here we come, right back where we started from...
Outline for a Solution
Sep 12th, 2014 - 02:10 pm - Link - Report abuse 0Take a gigantic loan from the IMF or another
consortium of NWO usual suspects.
Use “some” of the money for “selective pay-back” to creditors.
Increase taxes on corporations and citizens to subsidize the
loan payments.
“Those in power” must keep verbally reinforcing the necessity
of “shared sacrifice”, from the plebeians, to maintain a sovereign nation.
(Confiscation of citizen wealth)
The leaders keep partying like rock stars and in several years loop
right back to the same national economic dilemma.
openeyesopinion.com
#15
Sep 12th, 2014 - 04:46 pm - Link - Report abuse 0Hey, you understand perfectly the scam. So tell me the downside? The Peronists live like rock stars and the fools who continue to support them can still be rallied around those stubborn islanders in Las Malvinas...
#11
Well this resort is for sale.... Not only the sites, but the ENTIRE development. Let's see what it will sell for in November, shall we?
http://www.lec.com.ar/?gclid=COuY1KeN3MACFScV7Aod4QMATA
@4 Biguggy,
Sep 12th, 2014 - 08:56 pm - Link - Report abuse 0The Forbes article says it all, “Refusing to pay final arbitration awards is standard practice for Argentina.”......and it'll never change, at least not while the CFK gang is in power...
“Argentina will pay!”
Sep 13th, 2014 - 12:40 am - Link - Report abuse 0Everything?
Not even close I don't think. Bunch of devious liars.
”Buenos Aires province Senate approved a bill pushed by Victory Front’s lawmaker Patricio Garcia to take Argentina's battle against holdouts (vulture funds) to the province’s classrooms. “Our youth deserve to understand what is being discussed,” Garcia said.”
Sep 13th, 2014 - 01:53 am - Link - Report abuse 0Here they go again, more brainwashing!
As the title says...
Sep 13th, 2014 - 03:03 am - Link - Report abuse 0With the new bill “Argentina wants to pay, can pay and will pay all contracted debts”
but contracted seems to mean 'made smaller' and not contact as in what they agreed to pay to begin with.
If only we could all swizz money out of people with promises of profit and then tell them they are only getting a fraction back, or nothing at all if they don't agree.
What a shitty little government.
Sep 13th, 2014 - 08:10 am - Link - Report abuse 0@ 16 Chicureo
Sep 13th, 2014 - 11:34 am - Link - Report abuse 0A lot of yanks and others acted like sheep and followed the millionaire owner of an internet business tipping site into Argentina thinking he knew what he was on about. He bought a very large area around rural Mendoza but it didn’t have much in the way of housing other than the main building.
He had major grief with the squatters on his land and, as a mostly absentee yank landlord, got no help at all from the laughingly called ‘legal system’. So he left, just abandoned it. Just didn’t do his homework before ‘investing’.
You would need to be able to drop your investment without the loss bothering you before buying anything in The Dark Country because there is always the risk of the government claiming it under spurious circumstances.
Although this property looks good, it still in Argentina.
Propaganda in the classroom? How Venezuelan! The poor children there have to suffer a minimum of two hours of indoctrination per week. In the state-sponsored Bolivarian schools it is a lot more, with daily singing, praying and chanting to the Galatic Commander.
Sep 13th, 2014 - 11:47 am - Link - Report abuse 0(Yes, that is what some fanatics have now renamed Chavez. ...)
Good luck with all that. ...
@22 The last time I was in Mendoza there were a number of schemes designed to attract foreigners to invest in wineries. I didn't trust the government then and even less now. There will be some great bargains in the future in Argentina when the government changes, the trick is to make your money and get it out at the right time of the cycle.
Sep 13th, 2014 - 12:16 pm - Link - Report abuse 0“...wants...can...and will pay...” - 30 % and no interest!
Sep 13th, 2014 - 01:22 pm - Link - Report abuse 0Ilsen ....just an expansion of La Campora this was inevitable. They will be like tobi if he was formally schooled.
Sep 13th, 2014 - 01:52 pm - Link - Report abuse 0Another generation being told it is ok to not pay your debts, nothing is ever your fault and ownership over the the outcome of your actions is optional.
Sep 13th, 2014 - 02:14 pm - Link - Report abuse 0A nasty spiral and the legacy of these so called politicians.
“Argentina wants to pay, can pay and will pay”
Sep 13th, 2014 - 02:30 pm - Link - Report abuse 0The important word 'nothing' was erased from this.
#24 Elaine
Sep 13th, 2014 - 06:47 pm - Link - Report abuse 0I remember a long time ago posting to you to never consider investing in wineries or vineyards in Argentina. Certainly not because I'm against their very good quality wine, but because of what's happening under the CFK government. There are some seemingly good investments right now (for example: http://www.byronlutz.com/atilio.htm) but seriously, the industry will most likely collapse within 6 months as the economics don't make sense. Chile costs are roughly 35% lower per liter. Add the costs of exporting and it has become unmanageable.
Default alert!
Sep 13th, 2014 - 11:06 pm - Link - Report abuse 0By HANNAH DREIER The Associated Press
Posted: Thursday, Sep. 11, 2014
CARACAS, Venezuela President Nicolas Maduro is reassuring foreign creditors that Venezuela's government will make good on a $4.5 billion foreign debt payment due next month.
But economists are uttering the D-word for the first time, noting the inflation-ravaged economy is stumbling with basic goods in short supply and the currency eroding in value.
Maduro has repeatedly said default is not an option. On Wednesday, he reiterated his administration's commitment to pay “down to the last dollar.”
The subject gained traction in recent days, and even got its own Twitter hashtag, after an article by former Venezuelan planning minister Ricardo Hausmann and Harvard economist Miguel Angel Santos argued that a managed default could help Maduro resuscitate the economy and help his people.
“The fact that his administration has chosen to default on 30 million Venezuelans, rather than on Wall Street, is not a sign of its moral rectitude. It is a signal of its moral bankruptcy,” they wrote.
Last week, Maduro authorized the consolidation of off-budget funds into a single transparent reserve. Analysts were skeptical that the fund would actually reflect the government's finances, though, especially after it was revealed to have a balance of $750 million, a number dramatically lower than expected.
Analysts agree that more painful adjustments, including a currency devaluation, are needed to right the economy, default or no. But no one expects to see those changes soon.
-------
Haha at “ the currency eroding in value”. It is pratically worthless! I can get over 100 BFS to the Euro on the blackmarket. Maduro still claims that 1USD is worth 6.3 BFS.
You do the math(s).
We are seeing something of a theme here, are we not?
@29 Chicureo
Sep 13th, 2014 - 11:07 pm - Link - Report abuse 0The winery for sale at San Rafael looks inviting, but as you say, who's going to invest in a country where the government acts as if they don't appreciate private investment and changes the rules all the time.
And about the price of Chilean wine, versus from Argentina, you are right. Even here in Brazil it is easy to see that similar quality wines from Chile are more affordable than those from Argentina..
@29 & @ 31
Sep 14th, 2014 - 02:08 am - Link - Report abuse 0Always with Argentina and Venezuela the fear concerning investments is Expropriation.
I could tell you both some serious 'horror stories' from Venezuela. Fortunately I have got most of my money out. The core business, (which I can't discuss here), was closed and wound-up two weeks before the military arrived to inspect/loot the premises. Can you imagine this happening in somewhere like Norway or Canada?
I still own a defunct supermarket and a dead restuarant in Merida, both now closed and securely boarded-up.
All I can hope for is that they don't get burned out in the riots.
In real terms I have no actual idea of their current worth due to the madness of the current financial situtation.
Four different exchange rates?
64% inflation, (and that's only the official rate!)
Who would buy them?
Why would they buy them?
Don't invest in Argentina, that is all I can say!
There are wonderful opportunities perhaps in Argentina for 2015-7, but certainly not now.
Sep 14th, 2014 - 04:24 am - Link - Report abuse 0Sad, as it's a wonderful and beautiful country, and the people I personally know are all top notch. But saying that, Chile is by far the better investment for the near future.
Plus, the BBQ in Uruguay is far better right now than in Buenos Aires. ...Really...
France isn't too happy Paris was chosen as an alternative to payment from BA.
Sep 14th, 2014 - 02:13 pm - Link - Report abuse 033. 2015 will be worse than now. Much worse. I am pretty sure the holdins will accelerate by eoy.
Then what?
Fat Max, only a face a mother could love, wants CFK to be re-elcted. Do these corrupted has beens obey any laws? Even their own? BTW I don't think anyone with a =/- 20% approval rating could get elected not even in corrupted narco state of Argentina.
Does the picture of Elvis remind anyone of Muttley wanting a medal?
Sep 14th, 2014 - 08:23 pm - Link - Report abuse 0http://youtu.be/8qkSe4YM7EY
I like how they call this regime “Argentina” because of some fake election where they bought votes with groceries and crack. The real decent Argentina are people that didn't want ww3 to be their civil war. Gaza in Argentina thanks for Christina and Kiciloff.
Sep 15th, 2014 - 01:07 am - Link - Report abuse 0Commenting for this story is now closed.
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