Comments on: Why we might soon see another Argentine default http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: vieux_foque http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44789 Sun, 25 Nov 2012 22:54:10 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44789 Somebody has convinced the government of Ghana to hold the Argentinians’ training ship in port until the money is paid. I don’t know if the US State Dept is doing this, or the hedge funders went direct to the Ghanain court, but it’s a nice ship – a trophy even – and I’m sure the Argentinians do not want to lose it. I’d watch for a nighttime exit.

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By: Kaleberg http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44776 Fri, 23 Nov 2012 18:47:00 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44776 Has Argentina considered trumping up some kind of felony case against EA and demanding extradition of its principals? I’ve seen weirder stuff.

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By: MrRFox http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44775 Fri, 23 Nov 2012 14:09:48 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44775 Seems so easy – Argentina replaces BoNY with an offshore bank, pays into it funds then immediately transferred to the accounts of holders of restructured bonds – nothing happens in the US except the receipt of funds by holders – not like the court will try to any of that money away from them, is it?

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By: Danielmontero http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44773 Fri, 23 Nov 2012 09:06:50 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44773 “Judge Thomas Griesa, of the Southern District court in Manhattan, is mad as hell, and” you are very lucky Mr Salmon to live in the USA In Argentine you would be rigth now in jail…

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By: Nameless http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44772 Fri, 23 Nov 2012 00:37:57 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44772 Parasites, vultures or not, a contract is a contract is a contract.

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By: Danielmontero http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44770 Thu, 22 Nov 2012 22:52:34 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44770 I am very happy for this VICTORY OF THE JUSTICE FUNDS
Now many persons can fill AVENGED and others can have JUSTICE with Ecuador
They always speak about vultures funds,but is a real Voltures who bought before the default?That is an INVESTOR, to Argentine is not important at what price the investor pays.
The real VULTURES the banks that bought the bonds at 5 after the default and sell to Argentine at 30! But in this case Argentine dosent said anything
Or somebody thinks that in 2010 Argentine didnt know that she had already negociate a minimus?before the buyback
And in this case mention is not a VULTURE?of course is a DEPREDATOR paying 30% to the Houlders BUT they pay until the last cent to the FMI why??

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By: fields http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44769 Thu, 22 Nov 2012 22:17:47 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44769 Hmm – one awful mess he has created. Perhaps the real story here is we need age limits on these judges. When doctors get too old and make errors of judgement, their colleagues try to cover up for them. Maybe the appeals court will see it that way too?

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By: Nameless http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44768 Thu, 22 Nov 2012 22:08:50 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44768 “I dont’ get it. Griesa wants Argentina to pay full to the vulture hedge funds or just the same that other bond holders accepted (around 25%) ?”

100% of principal and back interest since 2001.

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By: qusma http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44767 Thu, 22 Nov 2012 21:51:18 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44767 “And then there’s the biggest question of all: how on earth are countries ever meant to be able to restructure their debts, if orders like this allow holdout creditors to get paid in full?”

By not issuing foreign-law bonds in the first place, Felix. That’s the entire point of foreign-law bonds: it’s very difficult to default on them. The sovereign gives up their ability to swiftly and easily default with zero consequences, and in return gets to pay lower interest rates.

We saw the exact same thing with Greece and the PSI. The Greek government actually managed to scare some (in retrospect rather stupid) foreign-law bondholders into accepting the PSI, partly through the use of collective action clauses. But there were holdouts, and they have been paid in full and on time because Greece does not want to go through the process of defaulting on English-law bonds.

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By: Anonymous http://blogs.reuters.com/felix-salmon/2012/11/22/why-we-might-soon-see-another-argentine-default/comment-page-1/#comment-44766 Thu, 22 Nov 2012 21:48:24 +0000 http://blogs.reuters.com/felix-salmon/?p=19525#comment-44766 I dont’ get it. Griesa wants Argentina to pay full to the vulture hedge funds or just the same that other bond holders accepted (around 25%) ?

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