BUENOS AIRES Aug 16 Argentina's President
Cristina Fernandez took to Facebook on Saturday to rail against
her country's holdout creditors, calling them greedy and bent on
thwarting a solution in order to keep Argentina mired in debt.
Fernandez' post on the social network was her government's
latest acrimonious attack on the bondholders she calls
"vultures" following the collapse of debt talks this week that
sent Argentine bond prices tumbling.
"The main thing with vulture funds is that they don't want a
solution," Fernandez wrote on her Facebook page.
"Not just out of greed and avarice but also because of a
political and geopolitical decision of wanting to indebt
Argentina again, and to destroy, in any way possible, the
restructuring of sovereign debt."
Argentina defaulted for the second time in 12 years on July
31 after losing a lengthy legal battle with hedge funds
demanding full payment on debt they own that stems from the
country's record $100 billion default in 2002.
Prospects for a private sector solution to the dispute
worsened on Wednesday after holdout investors said they
entertained no realistic offers from bankers for a chunk of the
One of the leading holdout creditors, Aurelius Capital
Management, said on Wednesday that there was "no realistic
prospect" of a private deal and that Argentina's economy would
suffer because of it.
Fernandez called Aurelius' comments "threatening and hurtful
to national sovereignty."
"This is a threat against all Argentines," she said.
Fernandez' defiant stance on the funds has won growing
support among Argentines, opinion polls show.
Many Argentines side with their government against hedge
funds that rejected the country's debt restructurings in 2005
and 2010 in which bond holders received less than 30 cents on
(Reporting by Jorge Otaola; Editing by Eric Walsh)