Argentina: Cristina can’t pay up . . .
By Fausta's Blog on June 21, 2014
So she keeps looking for a settlement: As posted earlier, the SCOTUS not only ruled that Argentina can’t make payments on its restructured debt unless it also pays the holdouts, but also that the creditors can get access to a wide number of bank records to locate financial assets overseas that they might be able to seize as compensation. Cristina Fernandez gave a speech about “vulture funds”, and came up with this (emphasis added), Argentina Wants to Settle With Holdout Creditors Argentine President Cristina Kirchner said her government wants to reach a settlement with a small group of creditors suing to collect on defaulted debt, but only if U.S. courts create the right conditions for talks. Let me translate this into plain English: Cristina’s saying that she’ll not abide by the terms of the contract upheld by the SCOTUS, but instead that she’ll agree to pay less when U.S. courts abide by Argentinian law, which is exactly what she’s been saying all along. . . .