Countdown To Default!

[dennisr]

Trade your Dollars now Frenchie, going to be a deal:
http://www.lapoliticaonline.com/nota/82351-los-bancos-retoman-la-negociacion-con-los-buitres-para-sacar-a-la-argentina-del-default/

 

[Matiasba]

Im sorry I put the wrong link, this one is the one I wanted

or this......

 

[Joe]

Trade your Dollars now Frenchie, going to be a deal:
http://www.lapolitic...na-del-default/

The banks can't do a private deal because it would trigger RUFO.

 

[sleslie23]

Trade your Dollars now Frenchie, going to be a deal:
http://www.lapoliticaonline.com/nota/82351-los-bancos-retoman-la-negociacion-con-los-buitres-para-sacar-a-la-argentina-del-default/

Dollars? Frenchie is so French he still uses French Francs.

 

[ajoknoblauch]

Fat lady has not sung yet:
http://www.cnbc.com/id/101860797

It's ironically amusing that Capitanich (or any other Argentine official) would call the US mediator "incompetent."

 

[Dublin2BuenosAires]

The banks can't do a private deal because it would trigger RUFO.

I understand the opposite to be the case.

If JP Morgan buy debt from Singer, then what? JP Morgan are on the hook for the 92%? Obviously not.

Surely then JP Morgan can agree to sit on their debt until Jan 2015 and collect at whatever rate they feel they will then be able to negotiate with the govt.

 

[Dublin2BuenosAires]

It's ironically amusing that Capitanich (or any other Argentine official) would call the US mediator "incompetent."

Well, if it walks like a duck, quacks like a duck....

 

[dennisr]

The banks can't do a private deal because it would trigger RUFO.

Ah? Cut the deal, place the purchasing funds in escrow for five months, transfer ownership in January.

 

[French jurist]

The banks can't do a private deal because it would trigger RUFO.

Argentina has been denied the knowledge of restructured bond holders (if I recall), but the banks through which those bonds are paid likely know their identities (?). Potential explanation (if a percentage of them accepts to waive the clause).

Tricky

 

[French jurist]

Ah? Cut the deal, place the purchasing funds in escrow for five months, transfer ownership in January.

Not sure how it is in the US, but in a Napoleonic jurisdiction, the transfer of ownership is immediate once there's an agreement on the "good" being sold & the price. Might be the issue