The Uruguay-Germany commerce and industry chamber (AHK), expressed its deepest concern over the current tension in relations between Uruguay and Argentina, and warned about the impact on the business climate for the two countries.
Argentina and Brazil have again clashed not over football but over trade and Mercosur according to the Sao Paulo media. Brazil believes there is a lack of ambition from Argentina to finish polishing the proposal to be exchanged with the European Union for a much delayed cooperation and trade agreement.
Cristina Fernandez on her Friday Flag Day speech in which she lowered usual rhetoric and asked US Judge Thomas Griesa for negotiations with the holdout hedge funds, picked on the Falkland Islands sovereignty dispute to channel her fury and forecasted there “is no colonialism that can last so many centuries, eventually they fall”.
After a day of fury and discussions with cabinet members, advisors and experts, Argentine president Cristina Fernandez will be sending a government delegation to New York to meet Judge Thomas Griesa and the hedge funds holdouts' solicitors and begin, hopefully, a round of negotiations to reach a settlement on the bonds litigation.
The following piece by Charles Lane published in the The Washington Post offers an interesting debate about future bailouts and sovereign debt restructuring, following on Argentina's case.
Payment of bond service due on June 30 in New York has been made impossible by Wednesday's lifting of a stay by a U.S. federal court, Argentina's economy ministry said on Wednesday, in a move that appeared to push the country closer to default.
An Argentine prosecutor who was suspended for 'ill performance' in his investigation into the dealings of one of President Cristina Fernandez close business associates, received a massive support Wednesday evening from demonstrators who marched in downtown Buenos Aires to the Attorney General's Office.
The Argentine Navy took re-delivery of TR-1700 class submarine ARA San Juan last month after the boat underwent a mid-life update (MLU) program at the Argentine Naval Industrial Complex CINAR.
US Judge Tomas Griesa said on Wednesday that the televised speech delivered by President Cristina Fernández on Monday after the US Supreme Court declined to hear an appeal by Argentina in its battle against the holdouts was “a problem” for negotiations and implied he did not trust the Argentine leader.
The Argentine Ambassador to the United Kingdom, Alicia Castro made an official visit to Northern Ireland where she was received by Deputy First Minister Martin McGuinness. They agreed on stressing the importance of dialogue and called for ties between both parties to be strengthened.