Countdown To Default!

[French jurist]

It is not possible to be in default at one place in the world and not in another, default is not localized.

Being in default is somewhat like being pregnant - you either are or you aren't, and it doesn't go away because you move into another room.

Miss one single payment and Argentina is in default as stipulated by the prospectus and the court ruling..

Why are you people grasping at non-existing straws?

Argentina Put Into Selective Default by Standard & Poor's - NASDAQ.com
http://www.nasdaq.co...-20140730-01652

Moody’s lowers Argentina outlook rating to negative
http://www.buenosair...ing-to-negative

Fitch rating agency has also downgraded Argentina's sovereign debt grade to the category of “restrictive default”, as it considered the country failed to make payment of its Discount bonds on July 30.

ISDA declares credit event on Argentina CDS
http://www.buenosair...n-argentina-cds

Everybody in the financial world has accepted that Argentina is in default, but you people keep saying it isn't, only because you don't want it to be.

Little bunny has no clue about what he's saying, you naughty little bunny

 

[polostar88]

Excuses if this has already been asked, but what can we expect will be the effect on expat life from this default?

 

[Bajo_cero2]

Excuses if this has already been asked, but what can we expect will be the effect on expat life from this default?

Well, probably there are not going to be many changes.

The situation is weird, indeed, but not as lineal neither simplistic as Don Alberto tríes to make people believe.

A real default is when a country stops paying because it cannot pay. argentina is paying and it can find ways to by pass Griesa and continue paying to the bondholders who accepted the restructuracion.

On 2015 Argentina can pay the vultures.

This fake default is a simple fraud to the bondholders trying to make the price fall and them Singer can buy more restructured bonds at a lower price. Meanwhile he tríes to trigger RUFO in order to claim the full payment of the restructured bonds.

Here is where people like Don Alberto works on confusing people.

 

[Bajo_cero2]

Interesting:

http://www.pagina12....2014-08-01.html

Where is Don Alberto every single time his "true" crashes reality?

http://www.pagina12.com.ar/diario/economia/2-252002-2014-08-01.html

By the way, Don Alberto, if there is a sentence, why the judge insists in continue negotiating?

Answer: because a country is a juridic person of international públic law with sovereignty. He cannot enforce the sentence.

If he tries to do it he is going to destroy NY as an international finance center.

 

[ghost]

Hedge Funds are plague that nearly destroyed the world economy in 2008 and will continue to make matters worse as we go forward. Many times there are victims of legal technicalities, and Singer found one and forced the issue knowing that Argentina was obstinate and would lead itself into the trap. Just because something is legal, it doesn't mean it's right. [and we all know that Wall Street can not be trusted to do what is "right" or honorable].
http://en.mercopress.com/2014/08/02/debt-restructuring-and-the-argentine-case-by-joseph-stiglitz

 

[French jurist]

I wonder how many Americans committed suicide due to the 2008 crisis (losing their homes, etc.), the ones who survived had to save, with their taxes, the banksters who ruined them.
There have been quite many dramatic cases in Spain.

 

[Gringoboy]

Well written article at The Bubble here:
http://bubblear.com/how-the-us-pushed-argentina-into-default/

 

[Chet]

Well written article at The Bubble here:
http://bubblear.com/...a-into-default/

I find that article a bit slanted.

 

[ghost]

Well written article at The Bubble here:
http://bubblear.com/...a-into-default/

That article is poorly researched. Noah Beaudette doesn't have clue as what he is writing about.
"Fortunately for Singer, Judge Griesa buys into the whole philosophy that allowing an economically vulnerable country to emerge from a crippling debt is kinda bullshit. In 2012, he declared that Argentina could not pay the exchange bondholders if they were not also paying the vulture funds. To take this new decree to an even further extreme, Griesa ordered that any bank that processed a payment from Argentina to the exchange bondholders would be held in contempt of his court." WTF this guy [Noah] doesn't know shit about law.

 

[Serendipity]

Really good article that sums up this whole debacle in a well balanced and informed way.

http://roarmag.org/2014/08/argentina-defaults-vulture-funds/