Should Argentina Default On Its Debt?

[toongeorges]

Now someone should buy an advertisement in the Wall Street journal saying "Argentina wants to continue spending their money, but they won't let it".

 

[French jurist]

Could you please tell us what is strange about judge Griesa's pari passu interpretation?

You may not like it, but then you should not sign documents, which invokes pari passu.

There's at least a second interpretation (which you knew about since your posts are clever), the French one, read the amicus Curiae http://fr.slideshare.net/lesechos2/brief-for-the-republic-of-france-as-amicus-curiae-in-support-of-the-republic-of-argentinas-petition-for-a-writ-of-certiorar

And there's even a third one I'll tell you if you ask me (and if you receive new Thanks too).

France is also the only "big" country supporting Argentina, and I like that!

 

[French jurist]

It is

And my question to you: what do you think of a single man's decision, with a potential effect on the lives of thousands, or maybe hundreds of thousands? (See all those suicides in Spain for instance, aweful).

This was too much for Griesa, as honorable he may be.

 

[EdRooney]

Frenchie, what do you mean France is the only one? The US gov't filed an amicus curiae on behalf of Argentina in the case, as did the IMF.

 

[French jurist]

Frenchie, what do you mean France is the only one? The US gov't filed an amicus curiae on behalf of Argentina in the case, as did the IMF.

Emporté par mon élan...

 

[Joe]

Emporté par mon élan...

Hoisted with his own petard

 

[French jurist]

Hoisted with his own petard

Say it is so, please

 

[French jurist]

Could you please tell us what is strange about judge Griesa's pari passu interpretation?

Another one: starts at "In 2002 however, a new interpretation of the pari passu clause..."


http://www.lse.ac.uk/fmg/events/financialRegulation/LFR15L_Buchheit-(Pari-Passu-Clause-in-Sovereign-Debt-Instruments---Emory-Law-Journal).pdf

What's your opinion about it?

 

[ArielFabian]

Can Arg pay to the 92% bondholders in a different country if these 92% accepts to change the rules by their own in a US court improving the original offer and be paid elsewhere?

 

[ajoknoblauch]

Can Arg pay to the 92% bondholders in a different country if these 92% accepts to change the rules by their own in a US court improving the original offer and be paid elsewhere?

It appears that, if they attempt to do so, Judge Griesa will hold them in contempt.