from The Great Debate:

Mystery in Argentina finds fertile ground for conspiracy theories

By Federico Finchelstein
January 29, 2015

A woman holds a sign that reads "Justice" and an image of prosecutor Alberto Nisman during a demonstration to demand justice over Nisman's death in front of the Casa Rosada Presidential Palace in Buenos Aires January 26, 2015. REUTERS/Marcos Brindicci

A woman holds a sign that reads "Justice" and an image of prosecutor Alberto Nisman during a demonstration to demand justice over Nisman's death in front of the Casa Rosada Presidential Palace in Buenos Aires January 26, 2015. REUTERS/Marcos Brindicci

from Breakingviews:

Bad ideas catching up with Latin America in 2015

December 29, 2014

By Martin Hutchinson

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

from Alison Frankel:

How contempt sanctions could force Argentina to talk to hedge funds

By Alison Frankel
September 25, 2014

(Reuters) - Argentina's contempt for the U.S. court system is not even debatable. Argentine officials have openly jeered at court orders enjoining them from making payments to bondholders who participated in Argentine sovereign debt restructurings without also paying more than $1.5 billion to hedge funds that hold defaulted bonds. The government has run newspaper ads vowing not to capitulate, has attempted to bring an action against the United States at the International Court of Justice in The Hague and, most recently, pushed through legislation authorizing its government to replace BNY Mellon with a state-controlled bank in Buenos Aires as the exchange bond trustee, after BNY Mellon made clear that it would not process payments for fear of violating the U.S. injunctions. Contempt, as it's ordinarily defined, practically drips from the words of Argentine politicians when they talk about U.S. District Judge Thomas Griesa of Manhattan, who has presided over their standoff with the holdout hedge funds for nearly a decade.

from Alison Frankel:

The other loser in Argentina debt saga: U.S. courts

By Alison Frankel
July 31, 2014

There's been a lot of talk in the Argentine debt crisis about whether U.S. courts have overstepped their bounds. At the end of 2011, you'll recall, U.S. District Judge Thomas Griesa of Manhattan ruled that the pari passu, or equal treatment, clause of Argentina's bond contracts entitles hedge fund holdouts that refused to participate in debt restructurings to payments alongside the more obliging exchange debtholders. Since then, Argentina and its allies, including the U.S. Justice Department, have argued that Griesa's interpretation of the pari passu clause -- which was subsequently affirmed by the 2nd U.S. Court of Appeals and left intact by the U.S. Supreme Court last month -- gives too much power to creditors and undermines sovereigns.

from MacroScope:

Euro zone inflation to fall further?

By Mike Peacock
July 31, 2014

draghi.jpg

Euro zone inflation is the big figure of the day. The consensus forecast is it for hold at a paltry 0.5 percent. Germany’s rate came in as predicted at 0.8 percent on Wednesday but Spain’s was well short at -0.3 percent. So there is clearly a risk that inflation for the currency bloc as a whole falls even further.

from Counterparties:

MORNING BID – On GDP, the Fed, Argentina, and lots of other things

July 30, 2014

To paraphrase Kevin Costner in Bull Durham, we’re dealing with a lot of stuff here. The U.S. economy did end up rebounding in the second quarter, with a 4 percent rate of growth that’s much better than anyone anticipated – and the first-quarter decline was revised to something less horrible, so investors worried about the economy are a bit less freaked out at this particular moment.

from Breakingviews:

Argentine opportunity cost is reason to cut deal

July 29, 2014

By Martin Hutchinson

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Counterparties:

MORNING BID – Tango de la default

July 29, 2014

Red letter day for Argentina comes tomorrow, with the holdout investors and the South American nation coming down to the wire on a potential deal that would offer the holdouts something better than what everyone else agreed to in 2005 and 2010. Without getting into issues of vultures vs. violating debt agreements, the situation probably comes down to three scenarios.

from Breakingviews:

If only Argentine economy matched soccer success

July 13, 2014

By Christopher Swann

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Counterparties:

MORNING BID – Next for Puerto Rico, Argentina and the Fed

July 8, 2014

The market's recent chatter has revolved specifically around whether the strength in the jobs figure from last week moves forward the expected timing of the first interest-rate hike from the Federal Reserve.