Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Argentina to hold last-gasp debt talks with mediator Tuesday (Default Looms Wed.)
Yahoo News ^ | 7-28-2014 | By Richard Lough and Daniel Bases

Posted on 07/28/2014 1:13:48 PM PDT by tcrlaf

Argentina on Tuesday will meet the U.S. mediator in its battle with 'holdout' debt investors suing the country for last-minute talks to avert its second default this century.

Mediator Daniel Pollack said in a statement on Monday he received a telephone call from the Argentine government advising him a delegation of technical, financial and legal representatives will meet him at 11 a.m. EDT (11.00 a.m. EDT) on Tuesday in his office. "I again urged direct, face-to-face conversations with the Bondholders, but that will not happen tomorrow," Pollack said, referring to the holdout creditors.

Argentine dollar-denominated bonds fell more than 3 percent in over-the-counter trading before recovering some losses as the clock wound down toward Wednesday's deadline for Latin America's No. 3 economy to either pay the New York hedge funds in full or cut a deal to stave off a default


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: argentina; default
Analysts say a last-minute deal cannot be discounted but a default looks increasingly likely as the deadline approaches.

"Argentine authorities seem to have reached the conclusion that to default now and renegotiate later would be the less costly option," said Carlos Caicedo, principal Latin America analyst at IHS Country Risk.

Hey, it's all good. Just think of all those new fees the US Banks can book!!

1 posted on 07/28/2014 1:13:48 PM PDT by tcrlaf
[ Post Reply | Private Reply | View Replies]

To: tcrlaf

Well, you know the axiom. It’s not the fall that will kill you; it’s the hard landing at the bottom.


2 posted on 07/28/2014 1:27:48 PM PDT by lurk
[ Post Reply | Private Reply | To 1 | View Replies]

To: tcrlaf

The US with the current administration will not let Argentina crash and burn. That would create too potent an optic. No our leftists need their leftist hellhole to continue it’s slow decline.


3 posted on 07/28/2014 1:41:29 PM PDT by RightOnTheBorder
[ Post Reply | Private Reply | To 1 | View Replies]

To: tcrlaf

Well, the can always seize private bank accounts and IRAs and give them government IOUs in return. < / sarcasm >


4 posted on 07/28/2014 1:44:10 PM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: tcrlaf
Maybe the new BRICS bank will lend Argentina a helping hand.
5 posted on 07/28/2014 2:57:32 PM PDT by mac_truck ( Aide toi et dieu t aidera)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mac_truck

You mean the new COMECON?


6 posted on 07/28/2014 3:13:22 PM PDT by pierrem15 (Claudius: "Let all the poisons that lurk in the mud hatch out.")
[ Post Reply | Private Reply | To 5 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson