Economists' open letter to UN: political power must be preeminent in handling economic policy

Thursday, September 10th 2015 - 07:35 UTC

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European countries must support the United Nations’ proposals for sovereign debt restructuring! – Open letter to the UN by 19 economists.On Thursday September 10, the United Nations General Assembly will vote on nine principles concerning the restructuring of sovereign debts. Read full article

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Conqueror
I wonder how many of this group of “economists” have received goodies from argieland. I can see this resolution getting a lot of support. After all, it will be voted on by politicians. I do trust that some honest “representative” will stand up and remind the GA that the majority of legal systems don't permit legislation to have retrospective effect.

I also hope that people who consider buying bonds will avoid those of countries, like argieland, that have a history of corruption, scams and most other forms of illegality.
Sep 10th, 2015 - 09:18 am - Link - Report abuse 0
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Brasileiro
Europe is still paying and will pay an extremely high price for servitude to the United States. Most likely it would never recover.

And the United States will only maintain power while the dollar dominate world trade. If the dollar lose control in a short the US space of time will become the greatest catastrophe that humanity has ever seen, and when I speak of the United States I refer to everything that is connected with it (people, companies, debt , economic partners).

What you see happening in Syria, Iraq or Libya is a small drop of water compared to what will happen with the West.
Sep 10th, 2015 - 11:20 am - Link - Report abuse 0
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Eck
I am amazed that when people borrow large sums of money and can't repay them in the agreed timescale, then bankruptcy ensues.

Why is this same rule not acceptable to countries who mismanage their finances, borrow huge sums of money and then expect creditors to accept that they have lost their money. Utter nonsense.

Only in the situation where a country is unable to pay back in the agreed timescales because the country's systems would collapse. As no further payments would be possible, repayment might then be renegotiated, but it should never be overlooked
Sep 10th, 2015 - 02:42 pm - Link - Report abuse 0
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Conqueror
@2. Mostly latam will die as the world recognises argie lies. Can't wait.

Who will be in charge when argieland is shown to be an arse?
Sep 10th, 2015 - 02:54 pm - Link - Report abuse 0
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Think
TWIMC

“In response to Argentina's ”vulture funds“ crisis and growing concerns about sovereign debt problems elswhere, the United Nations General Assembly tasked UNCTAD with ways to improve sovereign debt restructuring processes”
http://unctad.org/en/pages/newsdetails.aspx?OriginalVersionID=1072&Sitemap_x0020_Taxonomy=UNCTAD%20Home;

And, running todays show at 760 United Nations Plaza, Manhattan, New Amsterdam is my boy Kicillof...

Did I ever mention that I have great expectations for that boy in the 2019 Argentinean presidential elections?

Chuckle chuckle...
Sep 10th, 2015 - 07:01 pm - Link - Report abuse 0
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