Kicillof Pays To 92% Of Bondholders, Griesa's Move Now?

[PhilipDT]

US Politicians on both sides of the aisle argue in Congress, but they care about the poor, when they meet at the local charity get together at the Hamptons - Like Kerry and Biden millionaires that represent the poor?

The political process in most countries skews towards wealthy candidates. There are some exceptions of course, but generally this is the case. I don't think it's intentional I just think thats a side effect of who runs and who people tend to vote for.

 

[ajoknoblauch]

US Politicians on both sides of the aisle argue in Congress, but they care about the poor, when they meet at the local charity get together at the Hamptons - Like Kerry and Biden millionaires that represent the poor?

I'd far sooner trust Kerry and Biden to represent the poor than I would Mitch McConnell and John Boehner.

 

[Don Alberto]

El Banco Central compró más de U$S 1000 millones durante junio

One wonders what they need them for

 

[Bajo_cero2]

El Banco Central compró más de U$S 1000 millones durante junio

One wonders what they need them for

When they loose reserves it is bad, when they increase the reserves, it is bad, in Spanish we call it to be gataflorico...

 

[Don Alberto]

When they loose reserves it is bad, when they increase the reserves, it is bad, in Spanish we call it to be gataflorico...

What is wrong about increasing the reserves? on the contrary, that is exactly what Argentina needs.

An overview of Argentine foreign currency reserves:

December 2007 .. US$ 46.2 billion.
July 2010 ...... US$ 50.6 billion.
December 2010 .. US$ 52.15 billion (January to October 2012 the Argentine Trade surplus accumulated US$ 11,5 billion)
December 2012 .. US$ 43.8 billion (immediately after a payment of US$ 3.5 billion in GDP-linked bonds).
April 2013 below US$ 40 billion.
Today: Hopefully US$ 29.3 billion.

As can be seen, it would have been really wise if the Argentine government had negociated with the hedge funds from the strong position in 2010-2011.

 

[Bajo_cero2]

Easy to say now that you know the Griesa's desicion.

 

[thorsten]

I think no one blames the whole situation on the current government. However, the court decision was crucial for Argentina and there were 3 possible outcomes, so any reasonable leader would consider his options for each of those three outcomes and make plans for it. And if I remember correctly it was CFK speaking to the public on TV who said she expected this decision, so it seems a bit incompetent to get the expected outcome and than still not having a clear strategy for it - its not that they didn't have enough time to think about it...

 

[ajoknoblauch]

What is wrong about increasing the reserves? on the contrary, that is exactly what Argentina needs.

An overview of Argentine foreign currency reserves:

December 2007 .. US$ 46.2 billion.
July 2010 ...... US$ 50.6 billion.
December 2010 .. US$ 52.15 billion (January to October 2012 the Argentine Trade surplus accumulated US$ 11,5 billion)
December 2012 .. US$ 43.8 billion (immediately after a payment of US$ 3.5 billion in GDP-linked bonds).
April 2013 below US$ 40 billion.
Today: Hopefully US$ 29.3 billion.

As can be seen, it would have been really wise if the Argentine government had negociated with the hedge funds from the strong position in 2010-2011.

It's all about priorities. If the government had done so then, it could not have afforded Soccer For Everyone.

 

[Rich One]

I think no one blames the whole situation on the current government. However, the court decision was crucial for Argentina and there were 3 possible outcomes, so any reasonable leader would consider his options for each of those three outcomes and make plans for it. And if I remember correctly it was CFK speaking to the public on TV who said she expected this decision, so it seems a bit incompetent to get the expected outcome and than still not having a clear strategy for it - its not that they didn't have enough time to think about it...

The strategy IS to delay by all means, go to the Supreme Court , which failed, Appeal again , go to UN , OAS , etc. to extend a settlement beyond 2014 to 2015 to avoid the RUFO Clause.

 

[ajoknoblauch]

The strategy IS to delay by all means, go to the Supreme Court , which failed, Appeal again , go to UN , OAS , etc. to extend a settlement beyond 2014 to 2015 to avoid the RUFO Clause.

The UN and OAS provide Argentina a rhetorical alternative, but they have no jurisdiction.