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Argentina will file complaints against speculative funds in Belgium

Saturday, May 9th 2015 - 09:57 UTC
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Minister Kicillof making the announcement and describing speculative funds as “despicable and repugnant” Minister Kicillof making the announcement and describing speculative funds as “despicable and repugnant”

Economy Minister Axel Kicillof confirmed the Argentine government will be filing a complaint against speculative or 'vulture' funds for seeking to seize the accounts of the Argentine embassy in Belgium, and the Argentine mission before the EU in Brussels, adding hedge funds are the most “despicable and repugnant” of the world financial system.

 In statements to a Buenos Aires radio station on Friday, minister Kicillof questioned NML Capital that sought to confiscate the bank accounts of Argentina’s embassy in Brussels and of diplomats there.

“Argentina will not kneel facing the pressures of vulture funds. (NML Capital) has made another show-off in Belgium, because they cannot seize sovereign assets. It has been another pitiful advertising maneuver,” Kicillof told reporters.

“We will denounce vultures over this matter because they are the most despicable and repugnant (thing) there can exist in the international financial system. Almost no one in the world puts up with them anymore.“

Argentina is facing a billionaire dispute against so called ”vulture” funds suing the country over its defaulted bonds more than a decade ago.

The Cristina Fernández administration has repeatedly refused to comply with a ruling by US Judge Thomas Griesa ordering Buenos Aires to pay NML Capital and other holdouts in full, ratifying the government’s position it will not fail on the debt restructuring agreements reached with the majority (93%) of Argentina’s creditors back in 2005 and 2010, calling instead for a “fair” deal.

Top Comments

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  • yankeeboy

    Good luck with that Austral Elvis, I hope you have a back up plan to get out of the country when it turns into Caracas.

    I don't really hope that.

    May 09th, 2015 - 10:35 am 0
  • Porto Margaret

    The despicable and repugnant regime accusing others of what it itself is.

    One laughs along with the world at this lame regime and their vulgar 'look at me' kindergarten dramatics.

    May 09th, 2015 - 11:38 am 0
  • yankeeboy

    I'm very sure that's exactly why NML does these stunts, their intention is not to actually get the $ but to embarrass the Kthugs and make them squeal and look like total knobs to the rest of the world.
    Its exactly what I would do...

    May 09th, 2015 - 11:40 am 0
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