Argentina threatened with contempt order by USA Judge
Argentina fails to tell folks that the bank cannot comply with the judge's order to not pay the "interest" owed the exchange bond holders, and return the money, because Argentina refuses to issue the required transfer instructions to the bank for the return of the money to Argentina. As a result, the money sits in limbo, and the bank is caught in a "catch 22". Meanwhile Argentina falsely claims that it is not in default because it has made the required "interest" payments to the exchange bond holders. Argentina also continues to cloud the issue by citing the RUFO clause. RUFO only applies to "voluntary" payments, and there is nothing voluntary about a court order.
Meanwhile, the Argentine LIVs applaud Cristina for standing up to the "vultures". Argentina has stolen from the international financial community on seven previous occasions by defaulting on debt. You would think that the lenders would learn that Argentina is a bad credit risk. Unfortunately, the Argentine government will keep stealing as long as some fool is willing to lend them money. P. T. Barnum said it all.
[URL]http://finance.yahoo.com/news/argentina-threatened-contempt-order-u-000052587.html[/URL]
Tres3.
Argentina slams USA Judge
Draw your own conclusions from this link.
[URL]http://www.reuters.com/article/2014/08/13/us-argentina-debt-idUSKBN0GD1A920140813[/URL]
Tres3.
Argentina calls hedge funds in debt case an "international mafia"
It looks as if Argentina has given up all hope of a settlement favorable to them (the dream world scenario), so now they have decided to shit in their mess kit.
[URL]http://finance.yahoo.com/news/argentina-calls-hedge-funds-debt-135559467.html[/URL]
Tres3.
Argentina's Fernandez calls holdouts greedy, bent on thwarting deal
It looks as if Cristina is attempting to get as much political mileage, and distraction, as she can while the topic is still hot.
[URL]http://finance.yahoo.com/news/argentinas-fernandez-calls-holdouts-greedy-012827317.html[/URL]
Tres3.
Argentina's Bonds Decline on Plan to Offer Local-Law Swap
I guess that the government has decided that they have nothing to lose.
[URL]http://www.bloomberg.com/news/2014-08-19/argentina-to-pay-bondholders-in-local-account-to-skirt-ruling.html?cmpid=yhoo[/URL]
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Paul Singer's Next Trick Could Make Argentina Angrier Than The Time He Took Its Boat
More on Argentina's default and the roles Cristina and her late husband played.
[URL]http://www.businessinsider.com/singer-after-kirchner-funds-2014-8[/URL]
Tres3.