Stories for 2014

Friday, July 25th 2014 - 06:09 UTC
Mercosur is 'not working' because of protectionism and lack of arbitration

Mercosur is “not working” and is “stalled” admitted Uruguayan president Jose Mujica and blamed the situation on different visions of the block's functioning, according to an interview with Folha de Sao Paulo.
Friday, July 25th 2014 - 05:58 UTC
Argentines consider Mujica far “more honest” than Cristina Fernandez

An 'honesty' ranking by Argentine pollster, Giacobbe & Associates, based on 500 names, both alive and deceased, shows the country's public opinion poor belief in the political system, with president Cristina Fernández ranked 38, fourteen positions down from a similar poll last year and behind her Uruguayan peer Jose Mujica ranked 11.
Friday, July 25th 2014 - 05:49 UTC
Holdouts lash out at Argentina: “it is choosing to default next week”

NML Capital Ltd, one of the lead holdout creditors in Argentina's sovereign bond dispute said on Thursday the Argentine government refused to negotiate through a mediator and was all but preparing to default on already restructured debt.
Friday, July 25th 2014 - 05:36 UTC
Argentina/holdouts will meet again on Friday; “issues remain unresolved”

Daniel A. Pollack, the Special Master appointed by Judge Thomas P. Griesa to conduct and preside over settlement negotiations between Argentina and the holdouts from speculative funds said that Thursday's meeting had failed and announced a new audience for Friday at 10:00 in the morning in New York.
Friday, July 25th 2014 - 05:22 UTC
“The muddled case of Argentine bonds”, as seen by New York Times

The following piece was written by Floyd Norris, financial analyst from The New York Times and refers to the complicated process that has emerged from the ongoing battle between Argentina and the holdouts demanding full payment of sovereign bonds, plus accrued interests.
Friday, July 25th 2014 - 05:14 UTC
Argentina insists on Griesa for some insurance against the RUFO clause

After failing to reach an agreement during Thursday's meeting with court-appointed mediator Daniel Pollack, Argentina reiterated that there could be no negotiations with speculative funds or 'vulture funds' until judge Thomas Griesa provides some insurance against possible liabilities related to the 'Rights upon Future Offers' (RUFO) clause.
Thursday, July 24th 2014 - 23:34 UTC
Brazil's priority is curbing resistant inflation, say central bank minutes

Brazil's central bank indicated on Thursday it is unlikely to cut interest rates any time soon and instead is focused on curbing resistant high inflation even as the economy flirts with recession. In the minutes of its last policy meeting, the bank stressed that interest rates at current levels should help ease inflation in coming years.
Thursday, July 24th 2014 - 23:27 UTC
Hard-line opposition leader Lopez on trial; defense evidence thrown out

The trial against Venezuelan hard-line opposition leader Leopoldo Lopez, who is accused of inciting violence at anti-government protests has began in Caracas. Lopez could face up to 13 years in jail if convicted.
Thursday, July 24th 2014 - 22:55 UTC
Speculative funds denies any request to temporary suspend payment order

Argentine debt holdout investor Mark Brodsky, chairman of Aurelius Capital Management, said his group will not ask US Judge Thomas Griesa to suspend his payment order, after a story in Argentina's La Nacion newspaper on Thursday suggested that Paul Singer’s NML Capital Ltd could ask Griesa to reinstate the stay of injunction as requested by Argentina.
Thursday, July 24th 2014 - 07:01 UTC
In defiant speech CFK openly brushes aside any default “because Argentina has paid”

In a defiant speech President Cristina Fernández reiterated on Wednesday that Argentina will “not fall into default” and warned that “they will have to invent a new word” to explain how a country has paid its debt and “someone blocked it”.