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| Caribbean-Latin America |
| Argentina Declared in Default |
| 2014-08-01 |
| [BLOOMBERG] Standard & Poor's declared Argentina in default after the government missed a deadline for paying interest on $13 billion of restructured bonds. The South American country failed to get the $539 million payment to bondholders after a U.S. judge ruled that the money couldn't be distributed unless a group of hedge funds holding defaulted debt also got paid. Argentina, in default for the second time in 13 years, has about $200 billion in foreign-currency debt, including $30 billion of restructured bonds, according to S&P. Argentina and the hedge funds, led by billionaire Paul Singer's Elliott Management Corp., failed to reach agreement in talks today in New York, according to the court-appointed mediator in the case, Daniel Pollack. In a presser after the talks ended, Argentine Economy Minister Axel Kicillof described the group of creditors as "vulture funds" and said the country wouldn't sign an accord under "extortion." |
| Posted by:Fred |
| #7 Methinks ARGENTINA = CHRISTINA is trying too hard to be the geopol aggressive Great Power or OWG Co-Superpower that BRAZIL is still trying NOT to be??? |
| Posted by: JosephMendiola 2014-08-01 22:45 |
| #6 This is not the first time, right? |
| Posted by: g(r)omgoru 2014-08-01 15:48 |
| #5 ..and eventually everyone else's money runs out and their magic money goes nowhere. Small scale, large scale, the results are all the same. |
| Posted by: Procopius2k 2014-08-01 15:30 |
| #4 Socialism comes in many flavors. Communism, fascism, Maoism, Stalinism, Bolivarian revolution, etc. etc. It's all the same....tyranny. |
| Posted by: AlanC 2014-08-01 15:07 |
| #3 SpaceX has 2 launches scheduled for CONAE of Argentina. NY lawyers are already trying to attach them. 2014 CONAE (ARGENTINA) VANDENBERG FALCON 9 2015 CONAE (ARGENTINA) VANDENBERG FALCON 9 So anybody in the market for discounted elliptical orbits from Vandenberg? |
| Posted by: 3dc 2014-08-01 13:43 |
| #2 Critics of |
| Posted by: Abu Uluque 2014-08-01 13:18 |
| #1 Critics of Kirchner's administration charged it with corruption, crony capitalism, falsification of public statistics, harassment of Argentina's independent media and use of the tax agency as a censorship tool. Chalk up another failure of socialism/communism but no matter there are still those who clutch their gun-control meme and little red Mao book. Kirchner, the second woman President (the first being Isabel MartÃnez de Perón, 5th grade drop-out and former nightclub dancer and leftist). Kirchner is a leftist. Sounds like Kirchner took a page out of Obama's Alinsky playbook. |
| Posted by: JohnQC 2014-08-01 11:59 |