MercoPress. South Atlantic News Agency

Cristina Fernandez claims US is responsible for Judge Griesa's decision

The Argentine president said Griesa's decision is in violation of international law and the UN and OAS charts (Pic Telam)

President Cristina Fernandez said US Judge Thomas Griesa decision to declare Argentina 'in contempt of court' in the dispute with speculative funds, was in violation of international law, the UN chart and the OAS (Organization of American States) chart.

 Speaking a few hours after Judge Griesa' s decision, the Argentine president blamed the United States “for the actions of any of its organs, such as the recent decision of its Judicial branch”. She added that Judge Griesa's decision has “no practical effect be it not to provide new elements for the defamatory political and media campaign launched by the 'vulture funds' against Argentina”.

But “the Argentine government reaffirms its decision to continue defending national sovereignty and requesting the US government to accept jurisdiction from the International Court of The Hague to solve the controversy between the two countries”.

Judge Griesa on Monday declared Argentina in contempt of court, due to the nation's actions in attempting to change debt jurisdictions as a result of the ongoing judicial conflict with holdout investors presided over by his court.

“These proposed steps are illegal and cannot be carried out” Griesa said. He added that those steps include legislation Argentina passed that would allow it to replace Bank of New York Mellon Corp as trustee for some restructured debt with Banco de la Nacion Fideicomiso while allowing a swap of that debt for bonds payable in Argentina under its local laws.

Griesa ruled that the country had not followed the court's orders following the passing of a law which seeks to remove the Bank of New York as Argentina's financial intermediary to pay bondholders, currently unable to receive funds for debt servicing.

However the justice deferred the imposition of financial penalties worth up to 50,000 dollars a day for a later date, as was requested by the holdouts.

On Monday also and hours before Griesa's decision the Argentine government made public the text of a letter sent to US Secretary of State John Kerry warning that any such action would be in violation of “Argentine sovereignty and international law”.