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Argentina president defies US
court orders on repayment of debts

Associated Press, by Staff

Original Article

Posted By:ElSid, 6/16/2014 11:27:47 PM

Buenos Aires, Argentina - President Cristina Fernandez said Argentina can´t comply with U.S. court orders to pay $1.5 billion to winners of a decade-long legal battle over defaulted debt, the position her country was left in Monday when the U.S. Supreme Court refused to hear her government´s final appeal. Delivering a nationally broadcast address Monday night, Fernandez expressed willingness to negotiate with the winners, but said there is simply no way that Argentina can pay in cash, in full, starting just two weeks from now, which is what the U.S. courts have ordered. "What I cannot do as president is submit the country to such extortion,"

Comments:
It would seem that the US is bullying another country when it is so quick to give "humanitarian" aide and military assistance to our enemies (Muslim Brotherhood & Syrian rebels who are really Al Qaeda run, Hamas and the PLO). 0bama even found and is still secretly negotiating with Iran, a terrorist state so it will finish its nuclear program.

      


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Reply 1 - Posted by: seal010101, 6/16/2014 11:40:27 PM     (No. 9888798)

Excuse me? Extortion?

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Reply 2 - Posted by: NorthernDog, 6/16/2014 11:57:42 PM     (No. 9888818)

It´s hard to find any other country that has squandered as much potential as Argentina. (Although Obama could make the US a close second).

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Reply 3 - Posted by: mackrand, 6/17/2014 12:02:39 AM     (No. 9888825)

The comment by OP makes about as much sense as the subject of this article. Probably more than one of us is thinking: "Try to stay on subject"...

Argentina defaulted on their debt. It is as simple as that. Ten years ago they did that. Whether they refuse to pay is beside the point. They still owe the money to their creditors. I´m with the SCOTUS on this one. You owe the money? Pay up.

This is after all a sovereign country that has assets all over the world like the United States does. There is land and assets owned by Argentina just like the Federal Government here owns. If Fernandez is serious about rejoining the world economic apparatus she will start looking for assets to sell. Not too difficult to understand. Just buy a game of Monopoly and it will teach you pretty quickly how to stay afloat or sink.

This game the politicians around the world play is like Detroit defaulting with literally millions of dollars worth of art they just can´t bear to part with. It is ridiculous on the face of it. This Detroit Art does not belong to the Mayor or any other public servant just like the Argentinian art and other moveable assets does not belong to Fernandez.

Fernandez, you owe it, pay up!!

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Reply 4 - Posted by: Doc Obiwan, 6/17/2014 1:20:55 AM     (No. 9888866)

Soooo...If I don´t make my payments, they seize my truck. If Argentina doesn´t make its payments, can we seize Argentina?

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Reply 5 - Posted by: PChristopher, 6/17/2014 2:02:56 AM     (No. 9888879)

Our president doesn´t listen to the Courts (unless it agrees with him), so why should theirs?

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Reply 6 - Posted by: provide, 6/17/2014 6:10:27 AM     (No. 9888961)

I guess they´ll have to ransom the Falklands.

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Reply 7 - Posted by: Blackeagle, 6/17/2014 8:59:57 AM     (No. 9889150)

Argentina has an abysmal borrowing record. No one sane should, going forward, lend them a nickel. The past debt (now in default) was incurred when Argentina was backing its currency with the US dollar - giving lenders a false sense of security.

Those hedge funds will need lots of luck getting blood from a stone. The only source of cash Argentina has is probably more borrowing. Btw, the hedge funds bought the heavily-discounted debt on the secondary market (they did not lend the original funds). That debt was in default when they bought it. Not a lot of sympathy for those guys - or Argentina.

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