MercoPress. South Atlantic News Agency
Judge Griesa sends strong message of support for Argentina at crucial moment
As the Argentine congress started to debate an end to the 15-year litigation, United States District Judge Thomas Griesa sent a new message of support to Argentina by claiming he won’t allow any attempts to seize the funds to be used by Argentina to pay the holdout creditors. Read full article
Comments
Disclaimer & comment rulesWill they ever get their money back,
Mar 16th, 2016 - 08:19 pm - Link - Report abuse 0or is this just Argentina playing the waiting game, and hoping they all drop dead of boredom first.
Griesa is planning to retire in a few weeks and this is one way for him to try to wash his hands. The new judge for his district will likely get to hear claims from the thousands of holdout bondholders who were denied the very pari passu that Griesa used to get Argentina to maybe consider paying its obligations.
Mar 16th, 2016 - 09:40 pm - Link - Report abuse 0Griesa is a very honorable man.
Mar 16th, 2016 - 09:51 pm - Link - Report abuse 0So many other Judges could have made the lives of the Argentine Gov't very uncomfortable.
@3 Oh, yes, Griesa is considered essentially a saint in Argentina.....
Mar 17th, 2016 - 12:11 am - Link - Report abuse 0There's a big but in all this that is conditioned on the 2nd circuit appeals court acquiescing to Griesa's position.
Mar 17th, 2016 - 09:36 am - Link - Report abuse 0Now here is the twisted logic that you only hear from those of similarly ilk to the rg:
Gay Prat says that he is concerned that a possible attachment of proceeds will impair the sale of the wash out bonds. Decoded: Gay Pratt is concerned that he won't get an acceptable price for these bonds and that he may not be able to fully control the disbursement of the proceeds. The subterfuge: Since the receipts won't go into a NY escrow account he can divert them from their supposed purpose as Macaroni sees fit - not the US courts. The 2nd court of appeals gets this. The dilemma: If you are touched by or are required to touch a greased pig you're going to have grease on you. Griesa falls for the rg ploy - hence the intercession by the superior court. Nice try Macaroni - not. The rg subtext: If we sell the bonds and are forced to use the bulk or even all of the raise to satisfy NY claimants we may repudiate these as well since they were foisted on us not by an illicit domestic government but by a global cabal seeking to once more loot rg. Bottom line: Bad rg paper covered with bad rg paper.
Rgs once again seemingly unable to speak the truth or abide by a prior commitment. Macaroni's crew just has longer hair and louder sport coats but they're still thievin' rgs.
5. Are you trying to tell us the Argys are not forthright and honorable people?
Mar 17th, 2016 - 11:04 am - Link - Report abuse 0Say it isn't so!
Norteamericano is shit!
Mar 17th, 2016 - 11:48 am - Link - Report abuse 0Anyone want to take a wild guess which currency is, pound for POUND, the worst performing currency in the WORLD last 5 weeks?
Mar 17th, 2016 - 12:56 pm - Link - Report abuse 0hahahahaha.
funny this is the same judge CFK and the midget were claiming were so bias?
Mar 17th, 2016 - 02:48 pm - Link - Report abuse 0@8
Mar 17th, 2016 - 03:48 pm - Link - Report abuse 0But it outperforming the Arg $ and we do not have 30-40% inflation year on year
HaHaHa up yours
@7 Brassiero
Mar 17th, 2016 - 04:12 pm - Link - Report abuse 0“Norteamericano is shit!”
Wow!!
What a statement!!
Imagine the outrage and indignation, cries of discrimination and condescension if one of us were to say
“sudamericanos are shit”.
Brassiere, your prejudices and political self-interest are palpable.
@10 Annual inflation rate in Argentistan as of February was 32.9% (congressional IPC numbers) and that is just so far this year. The central bank is offering notes at 38 percent effective annual rate. Wheelbarrows, anyone?
Mar 17th, 2016 - 04:17 pm - Link - Report abuse 0Shades of the Bundesbank . . . .
Mar 17th, 2016 - 05:08 pm - Link - Report abuse 0Macri had said dollars would start pouring as soon as rates were freed; he also expected the large agricultural producers to begin selling their harvest at high speed so dollars would be coming in like crazy. Nothing happened.
Mar 18th, 2016 - 11:57 pm - Link - Report abuse 0Now he and his financial wizards are promising investments will begin rushing in as soon as the vultures are paid. This, of course, won't happen. Macri and friends don't care much. The banks designated to handle the vulture “normalization” operation will make millions in commissions, as they will with any subsequent borrowing.
Meanwhile, over 100,000 public and private sector employees have been laid off, with more to come. (Google: layoffs - Argentina).
Some companies have already been hit by the elimination of duties on mined minerals that has made more profitable to export raw than to process it in the country.
Only a few are experiencing the “Joyful Revolution” promised by Macri.
Only the 1 per cent.
Enrique,
Mar 19th, 2016 - 12:21 am - Link - Report abuse 0Rather than wish the best for Argentina, you seem determined to be disillusioned and spread your message of failure and disappointment.
If I did not know better, I would say that you want the reforms to fail.
You sound happy.
A bit naive of you to expect Macri to turn the economic tide in a few days, after ten years of decline, theft, and outright arrogant obstinance.
Only 100,000 ?
Mar 19th, 2016 - 04:07 am - Link - Report abuse 0I was hoping for a minimum of 1,ooo,000!
Lol.
#15 T Tempest
Mar 19th, 2016 - 05:16 am - Link - Report abuse 0It's not a matter of me feeling disillusioned, or alternatively, happy. We cannot influence what happens; only try to understand it.
The recipes Macri is applying have been tried before--perhaps never so fast and so deep--and ended up in failure.
Then it's not a matter of expecting “Macri to turn the economic tide in a few days.” He is not going to turn any tide at all: he is a tsunami of negative changes that will throw the country into recession, and the first signs are already there but will become painfully clearer some time down the road.
I would be the first to be happy if Macri were to prove me wrong and bring prosperity to the people in Argentina. But then again, Macri wouldn't be himself but someone else.
#16 chronic
Don't worry. Macri is working on that. His goal is 15 per cent unemployment, which will allow to push wages down to the bottom.
@17 Enrique;
Mar 19th, 2016 - 06:20 am - Link - Report abuse 0The country was already in recession, with growing unemployment, 30%+ Inflation, 27% of the population living in poverty, and a very high violent crime rate - all of which were climbing, ever since CFK took power.
CFK creates an economic mess and Macri gets the blame.
Mar 19th, 2016 - 09:14 am - Link - Report abuse 0Typical!
Cretina didn't spin this web in a vacuum or without the aid of a solid cultural foundation for self absorption and failure.
Mar 19th, 2016 - 09:51 am - Link - Report abuse 0What do you expect of rgs?
Lol.
Survey by Poliarquía Consultores: 69 percent approval of how Macri is managing the government.
Mar 19th, 2016 - 01:35 pm - Link - Report abuse 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!