Stories for 2014

Friday, August 1st 2014 - 08:42 UTC
UBS calls on Swaps Association to ask if a “failure to pay” event had occurred

The International Swaps and Derivatives Association (ISDA) said on Thursday it had received its first request to consider whether a credit event had occurred, according to the ISDA website.
Friday, August 1st 2014 - 08:33 UTC
US calls on Argentine government to seek 'practical solutions' with holdouts

Kevin Sullivan, US interim ambassador in Argentina affirmed on Thursday that the country must seek “practical solutions” with the 'holdouts' or the so called vulture funds over defaulted bonds.
Friday, August 1st 2014 - 08:24 UTC
Argentine shares and bonds plunge, while US dollar climbs as operators seek refuge

Argentine shares and bonds plunged on Thursday as investors reacted to the failed negotiations between Argentina and the holdout hedge funds in New York. At the Buenos Aires City stock market the Merval index closed down by 8.4% to 8,187.99 points, far from yesterday’s record 6.9% climb.
Friday, August 1st 2014 - 08:08 UTC
Catalonia's independence referendum is on, underlines president Mas

Spanish Prime Minister Mariano Rajoy and Catalan President Artur Mas failed to break the deadlock over Catalonia’s independence drive, with both holding firm on their positions when they met for the first time in a year.
Friday, August 1st 2014 - 07:57 UTC
World economists call on US Congress to take action on the Argentina/holdouts rulings

Over 100 economists, including Nobel laureate Robert Solow, Branko Milanovic and Dani Rodrik called on the United States Congress to take action to mitigate the harmful fallout from the recent ruling by Judge Griesa of the U.S. District Court for the Southern District of New York that requires Argentina to pay holdout creditors at the same time as the majority of creditors.
Friday, August 1st 2014 - 07:52 UTC
Argentine president defies Judge Griesa rulings and mocks 'selective default'

President Cristina Fernández said on Thursday she will not “sign an agreement” that compromises Argentina's future, while blasting “vulture funds” for wanting to “collect Griesa's usurious sentence”, following the Wednesday failure of negotiations between the country and holdouts.
Friday, August 1st 2014 - 02:43 UTC
Saying Argentina has defaulted is “an atomic nonsense” underlines Kicillof

Argentina's Economy Minister Axel Kicillof denied point blank that Argentina defaulted on its debt and described such statement as “an atomic nonsense”. The minister gave a press conference in Buenos Aires a day after the failed negotiations with holdouts in New York and claimed ”those who today cheer the apocalypse, applauded the 2001 (crisis).”
Thursday, July 31st 2014 - 22:19 UTC
Falklands Chamber of Commerce re-elects Spink; forecast of busy 2015 propped by oil and squid

Falkland Islands economy will keep growing and businesses will be busy next year spurred by the oil industry and better Illex catches, anticipated Falkland Islands Chamber of Commerce, FICOC, Roger Spink who was re-elected as head of the Board of Directors.
Thursday, July 31st 2014 - 22:10 UTC
Judge Griesa summons Argentina and holdouts for a Friday hearing

After negotiations between the Argentine government and the speculative funds, led by US Special Master Daniel Pollack failed, New York District Judge Thomas Griesa called for a new hearing between the parties for Friday at 12 pm (Argentina time).
Thursday, July 31st 2014 - 07:39 UTC
Mercosur divided on the Gaza Strip statement; Paraguay dissented

Paraguay strongly objected a draft Mercosur declaration on Gaza which wanted to openly support Palestine and unilaterally condemn Israel's bombings and incursions, according to sources at the group's summit which took place Tuesday in Caracas.