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UN Human Rights Council sides with Argentina condemns 'vulture funds'

Saturday, September 27th 2014 - 07:59 UTC
Full article 51 comments
“Vulture funds will not stop until we put the break on,” Argentina Foreign Minister Hector Timerman “Vulture funds will not stop until we put the break on,” Argentina Foreign Minister Hector Timerman
The resolution was tabled by Argentina, Russia, Brazil, Venezuela and Algeria. Nay votes came from US, Czech Republic, Germany, Ireland, Japan and UK The resolution was tabled by Argentina, Russia, Brazil, Venezuela and Algeria. Nay votes came from US, Czech Republic, Germany, Ireland, Japan and UK

The United Nations Human Rights Council meeting in Geneva on Friday adopted an Argentine-fueled resolution which condemns the so called 'holdouts' or “vulture funds”, currently in a legal dispute against the country.

 “Vulture funds will not stop until we put the break on,” Argentina Foreign Minister Hector Timerman said when referring to the document approved by 33 votes in favor, five against, and nine abstentions.

The resolution is titled: “Consequences for foreign debt and international financial obligations of States for the full enjoyment of human rights, economic, social and cultural rights. Vulture funds activities.”

The resolution was tabled by Argentina along with Russia, Brazil, Venezuela and Algeria.

Six out of 11 nations that voted against the project to regulate international debt restructurings in the UN were present in the council: USA, Czech Republic, Germany, Ireland, Japan and Great Britain.

Ireland abstained from voting, together with Austria, Estonia, France, Italy, South Korea, Romania and Macedonia.

The 5 nations that voted against the initiative argued that the complaint has to be issued in an international credit organization and not the Human Rights Council.

“The resolution not only condemns vulture’s activities, but also urges the UN to investigate their behavior and analyze their effect over sovereign economies,” Timerman explained.

Several Western envoys noted that the issue was already being dealt with by the International Monetary Fund, the G20 group of major economies, and the UN General Assembly.

Top Comments

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  • scarfo

    The 5 nations that voted against the initiative argued that the complaint has to be issued in an international credit organization and not the Human Rights Council. True!

    Sep 27th, 2014 - 08:31 am 0
  • reality check

    Concerntrate on what you were set up to deal with. Detention without arrest! torture! slavery! Rape as a method of war! people trafficking! and the hundreds of other things that come before whether or not someone being allowed to break a debt contract, is a breach of their human rights.

    CULTURAL HUMAN RIGHTS? SOCIAL HUMAN RIGHTS? WHAT THE FUCK ARE THEY? YOU THINK A SLAVE WORRIES ABOUT WHETHER IS CULTURE IS BEING RESPECTED? YOU THINK HE WORRIES IF ALL SLAVES ARE BEING ABUSED EQUALLY. Your a bunch of fucking idiots!

    What the hell are you? If you care about it so much about the subject, go work in your local small claims court!!!

    Jesus Christ!

    What a criminal waste of OUR time, money and resources!

    Sep 27th, 2014 - 09:07 am 0
  • yankeeboy

    Ridiculous stunts like this cheapen the bodies of the Organizations. I can not understand why the USA is still part of the UN. It is a joke and a costly joke at that.
    I hope the next Prez just stops funding it.

    Sep 27th, 2014 - 10:03 am 0
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