Argentina says it has no team for talks in debt battle

Comments (11)
JPHR wrote:

Thank you Supreme Court of America. South America will love you for this.

Jun 19, 2014 2:18am EDT  --  Report as abuse
blanddragon wrote:

Why should South America be treated any differently from ANY other state or person? Pay your bills or suffer the consequences of not paying your bills.

Jun 19, 2014 8:47am EDT  --  Report as abuse
mcgriff wrote:

The fact that apparently Argentina is willing to do something that they refused before- i.e. negotiate with the holdouts, is perhaps a hopeful sign.
If it doesn’t lead anywhere, oh well, Argentina defaults again.
Then they will truly be a pariah state.
Funny thing is- they have the wealth and the resources.
They just don’t want to pay to the evil Yankees.
A sorry case of politics and ideology getting mixed up with what should be a strictly business transaction.
You borrow the money, you pay back the debt. Full Stop.

Jun 19, 2014 9:21am EDT  --  Report as abuse
mcgriff wrote:

The fact that apparently Argentina is willing to do something that they refused before- i.e. negotiate with the holdouts, is perhaps a hopeful sign.
If it doesn’t lead anywhere, oh well, Argentina defaults again.
Then they will truly be a pariah state.
Funny thing is- they have the wealth and the resources.
They just don’t want to pay to the evil Yankees.
A sorry case of politics and ideology getting mixed up with what should be a strictly business transaction.
You borrow the money, you pay back the debt. Full Stop.

Jun 19, 2014 9:21am EDT  --  Report as abuse
Errata wrote:

Argentina’s government seems to be characteristically confused and stumbling over this issue. Yesterday (18 June) the Argentine economic minister Kicilof said he would go to NY to negotiate with Griesa and NML, but today (19 June) the Argentine papers are reporting that Capitanich, the cabinet chief, is saying that there is no such mission to NY for that purpose. (Sample Argie article: “Capitanich afirmó que no hay misión preparada para un eventual viaje a Estados Unidos.”) Naturally, the value of Argentine bonds immediately crashed. With a government so confused and uncoordinated, it is little wonder that it goes from one major economic crisis to another, and that no sensible investor goes there.

Jun 19, 2014 9:56am EDT  --  Report as abuse
njglea wrote:

Hedge fund creditors want Argentina to default so they can buy up the government services – and privatize them – for pennies on the dollar, strip the assets and pocket the profits. Just as they are doing in Greece, Ireland, Portugal and every other country that was stupid enough to go into debt with them including America. Mafia on steroids.

Jun 19, 2014 11:14am EDT  --  Report as abuse
Nagant wrote:

I remember the booklet that came with my first credit card (I was a college student back then). It contained a few simple rules, adapted for easier understanding by young inexperienced students.
– If you wanna play, you’ve gotta pay
– If you can’t pay it all, pay at least the minimum due.
– If you cannot pay, you should not play
Why a relatively well off nation of Argentine should be treated different from poor students?

Jun 19, 2014 12:41pm EDT  --  Report as abuse
lkofenglish wrote:

Just send in the Navy. Seize the assets…or wipe them out. Should cost Mr. Singer that much to borrow a battleship for a week.

Jun 19, 2014 12:46pm EDT  --  Report as abuse
UrDrighten wrote:

Quote: “The 2nd U.S. Circuit Court of Appeals ruled on Wednesday that Argentina can’t continue to pay creditors who agreed to restructure their bonds after its 2001-02 default on $100 billion in debt unless it also pays $1.33 billion to the holdouts demanding full payment.”

I’m shocked! I’m almost 60 years old and I’ve always believed that Argentina was a sovereign nation in South America. Apparently, it’s a state located somewhere between New York and Vermont.

Well, I learned something interesting about Argentina. I’ll bet the 2nd Circuit Court of Appeals is going to learn something interesting about Argentina, too…

Jun 19, 2014 2:01pm EDT  --  Report as abuse
DonD1977 wrote:

Looks like Argentina had the letter “A” repossessed.

It’s better to not negotiate at all than to negotiate in bad faith, just as it’s better to do without than to borrow money for a car or house you cannot afford.

Jun 19, 2014 2:02pm EDT  --  Report as abuse
3887813 wrote:

Leftist governments love to borrow and hate it when they’re asked to pay back. For evidence of this, you need look no further than the administration of Barack Hussein Obama.

Jun 19, 2014 7:36pm EDT  --  Report as abuse
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