Spanish Judge Garzon praises Argentina's sovereign payment bill and UN resolution

Monday, September 15th 2014 - 04:07 UTC

Full article 14 comments

Former Spanish Judge and Human Rights activist Baltasar Garzon praised the Sovereign Payment law approved by Argentina’s Congress last week and described the United Nation’s resolution for the creation of a multilateral legal framework for sovereign debt restructuring process as “essential.” Read full article

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Holdout.from.Germany
The UN Resolution is also a good information for potential creditors.

After this UN vote, potential creditors now know, which 124 countries in the future do not want to repay their debts.

Who will lend these 124 countries in future money?
Sep 15th, 2014 - 06:58 am - Link - Report abuse 0
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golfcronie
Excellent point, no major players in the world would sign up to the “ new regulations ” without legal constraints. Still the 124 countries probably do not understand thye word “ LEGAL ”
Sep 15th, 2014 - 09:13 am - Link - Report abuse 0
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ChrisR
Nothing will come of this, the UN is the wrong body to address it.

The 124 have blown it though.
Sep 15th, 2014 - 11:16 am - Link - Report abuse 0
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Briton
like father , like daughter,
these two never learn.
Sep 15th, 2014 - 12:18 pm - Link - Report abuse 0
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Captain Poppy
Of course it is a commercial ruling it was based on contract law. WTF is wrong with these people!!??!! It is so simple why can they not see it? It is either within the perimeters of the law of it is not.
Sep 15th, 2014 - 12:23 pm - Link - Report abuse 0
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gordo1
The UN has no mandate to cancel/override the laws of its member states. Thus if member states specify by contract the jurisdiction of its commercial activities then surely 1)the member states must comply with their contractual obligations 2) No body of the UN can unilaterally declare invalid the contracts entered into by its member states and 3)Belzón is not qualified to make a decision about this matter - he can only state his opinion.
Sep 15th, 2014 - 12:40 pm - Link - Report abuse 0
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golfcronie
“Sovereign Payment Law”, Eh!!! It is law now, don't think so! Maybe it is under consideration but it is certainly not a law PMSL
Sep 15th, 2014 - 02:02 pm - Link - Report abuse 0
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Conqueror
The UN General Assembly has no power. It's a talking shop. NO GA resolution is BINDING. The mistake argieland always makes. And spain is equally stupid. And on the brink of bankruptcy!
Sep 15th, 2014 - 02:24 pm - Link - Report abuse 0
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Pugol-H
If they want to keep sovereignty over bond contracts, then all they have to do is sell them in Argentina not New York.

Oh but wait, then nobody will buy them.

So now Argentina argue they should to be able to re-write bonds issued outside of its jurisdiction.

In the unlikely event that they ever succeed, then nobody will buy Argentine bond even when issued in NY.

Real lose, lose for Argentina this one.
Sep 15th, 2014 - 03:28 pm - Link - Report abuse 0
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gordo1
@9 Pugol-H

No matter what efforts they make they can't wriggle out of this one!
Sep 15th, 2014 - 04:28 pm - Link - Report abuse 0
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chronic
Speaking of judges and the universal victimization of rotting roadkill:

Were the judges of Mayweather/Maidana II in Singer's pocket?

Are things so hard in rotting roadkill that you can't buy MM a meal before the fight?

Someone needs to by Marcos a copy of the rules of boxing. Oh wait. He's from rotting roadkill so the rules aren't applicable to him.
Sep 15th, 2014 - 05:59 pm - Link - Report abuse 0
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Captain Poppy
Even trying to bit his thumb off he still get's his ass kicked. He fights like their army.
Sep 15th, 2014 - 08:37 pm - Link - Report abuse 0
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chronic
12. Exactly. I used to think that rotting roadkill could act a little better when it came to sport but now I don't know. Every one of their sports celebrities that is on the world stage is so flawed.
Sep 16th, 2014 - 01:41 am - Link - Report abuse 0
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psql
There we go again, the supper agie-bashi club got together again.

Now we are together with the vulture fund. I can not believe it. Such a bunch of traitors.
I wonder if Singer give you a check for your comments?
Print dollar, print more, 3 trilions we must pay... la la la
Sep 16th, 2014 - 12:38 pm - Link - Report abuse 0
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