Changing Usd Before Or After The End Of The Month?

[French jurist]

Anyway, remains to be seen if that will be considered a default.

- Argentina claims the payment has been done.
- Griesa admits the payment has been done "[background=rgb(252, 252, 252)] [/background]But money actually had been paid[background=rgb(252, 252, 252)]. [/background]" (page 41 http://fr.scribd.com...Julio-22-2014��)

Maybe can Argentina ask at the last minute the holders of US bonds to manifest themselves (since Argentina was prohibited to get their names) for an immediate payment.

Whatever Griesa does with the bonds under other jurisdictions (which have been paid) is after all an US problem (I think that with the lawsuits & such against the US banks or clearing houses made by those bond holders will affect the US but what's important is Argentina)

 

[French jurist]

There is not going to be any agreement. RUFO is more expensive. A default is better for Argentina. Wait after the 30.

http://www.clarin.co...1182481748.html

Another one in favor of default (+ canje local)

http://www.pagina12.com.ar/diario/elpais/1-251655-2014-07-27.html

No need to worry too much anyway (lowering Soja prices are more worrying)

 

[French jurist]

Seems like Singer attacked the wrong country. He should focus on really small countries

 

[Joe]

I'm really surprised people expect a clear ending on August 1st. The folks that have to pay out on the CDSs are going to use any excuse not to pay off. So the holdout's attention might be more focused on getting the CDS folks to declare a default - who knows how long that would take - might be another multi-year legal battle.

 

[Jaredberryman]

This is all going to drag on and on. Unfortunately, I think the damage has already been done. I think Argentina's biggest problem is that Argentinian's confidence in their country is incredibly low. No one who has even a few dollars or even pesos dares to keep it in the system or invest here. All these problems with the default make it even worse than before. If confidence returned, and Argentine investors had more confidence, then a ton of them would invest here because it is their country. This is, unfortunately, going to make things far more difficult.

 

[ajoknoblauch]

This is all going to drag on and on. Unfortunately, I think the damage has already been done. I think Argentina's biggest problem is that Argentinian's confidence in their country is incredibly low. No one who has even a few dollars or even pesos dares to keep it in the system or invest here. All these problems with the default make it even worse than before. If confidence returned, and Argentine investors had more confidence, then a ton of them would invest here because it is their country. This is, unfortunately, going to make things far more difficult.

Can we realistically expect Argentina to become a different country?

 

[Bajo_cero2]

I'm really surprised people expect a clear ending on August 1st. The folks that have to pay out on the CDSs are going to use any excuse not to pay off. So the holdout's attention might be more focused on getting the CDS folks to declare a default - who knows how long that would take - might be another multi-year legal battle.

Perhaps a bad strategy on the vulpure's side? Too greedy?
If they want cash, they need the stay until 2015 BUT they bought an insurance against default, so, default is a good busisness. Also, they try to make RUFO happends. Then they can buy more bonds and make more lawsuits. They also wants Vaca Muerta...
Yesterday i read that they "donated" 100.000 usd to a foundation of PRO. A brive perhaps?

 

[French jurist]

There's no meeting scheduled today between Argentina & the mediator...

Alea jacta est...

 

[dennisr]

It's an international case now, involving the EU, Argentina, Japan, the US, etc.
If nothing is changed in Griesa's ruling, Citibank (just an example) will face heavy fines (and possibly executives will face jail time? didn't check yet) in Argentina + the jobs lost for the US financial sector.

Anyway, we'll know soon enough now. If Griesa doesn't change his decision (could be), the developments will be even bigger.

Qui vivra verra

http://www.cronista.com/economiapolitica/Bocco-Griesa-es-un-amateur-que-siempre-actuo-sobre-accidentes-de-transito-20140728-0062.html

 

[French jurist]

at the same time, the Argentine bond prices remain quite steady.

As we are good capitalists, market is always right