United States

Saturday, June 21st 2014 - 09:45 UTC
Strong warning to Argentina from Griesa regarding payment of bondholders

US Federal Judge Thomas Griesa, ratified on Friday through an official letter that Argentina’s proposal to carry out a debt exchange and pay its bondholders in Buenos Aires represents a “violation of the rulings and procedures.”
Saturday, June 21st 2014 - 09:31 UTC
Cristina Fernandez calls for negotiations: “we want to pay 100% of creditors”

In a conciliatory speech compared to previous statements, President Cristina Fernandez said on Friday her government would negotiate with all of Argentina's creditors in a bid to avoid a new debt default that would further weaken the country's ailing economy.
Friday, June 20th 2014 - 07:21 UTC
After all: Argentina seems willing to start discussions with Griesa and hedge funds

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.
Friday, June 20th 2014 - 06:42 UTC
Argentina's Supreme Court loss may serve as a wake-up call

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.
Friday, June 20th 2014 - 06:19 UTC
Mujica delivers Obama message to Castro: 'let's talk about lifting the trade embargo”

Uruguay's president Jose Mujica delivered a message from Barak Obama to Cuba's Raul Castro proposing the opening of dialogue to discuss the blockade, reported the Montevideo media on Thursday. The occasion was the recent G77 summit held in Bolivia.
Thursday, June 19th 2014 - 18:33 UTC
Argentina says June 30 bond service in New York was made 'impossible' by lifting 'stay' order

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.
Thursday, June 19th 2014 - 06:09 UTC
Fed cuts US growth forecast, but will also further trim stimulus program

The US Federal Reserve has cut its growth forecast for 2014 because of the harsh winter weather. The central bank is now predicting growth of between 2.1% and 2.3% for this year, down from its March forecast of 2.8% to 3%.
Thursday, June 19th 2014 - 02:26 UTC
Griesa does not trust Cristina Fernandez and condemns the word “extortionist”

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.
Wednesday, June 18th 2014 - 08:20 UTC
Obama pledges to crack down on illegal fishing and enforce traceability

The Obama administration announced on Tuesday an initiative to track every fish sold in the United States, a move designed to crack down on illegal, unreported and unregulated fishing, mislabeling of seafood and related problems.
Wednesday, June 18th 2014 - 07:52 UTC
“Judge Griesa's message is reasonable and conciliatory” argues Lavagna

Argentina's former Economy Minister and architect of the 2005 rescheduling of defaulted debt, Roberto Lavagna called for “calm” and “seriousness” to rethink the country's legal strategy following the setback suffered on Monday when the US Supreme Court decided not to hear its appeal against holdout hedge funds.