Argentina to Balk on US Supreme Court Default Ruling

www.foxnews.com...

Argentine leader says she won't honor $1.5 billion debt ruling despite US Supreme Court loss

BUENOS AIRES, Argentina – Argentina's president is refusing to go along with a U.S. judge's ruling requiring a $1.5 billion repayment of defaulted bonds, even though the U.S. Supreme Court rejected her government's appeals and left the order in place.

In a national address Monday night, Cristina Fernandez repeatedly vowed not to submit to "extortion," and said she had working on ways to keep Argentina's commitments to other creditors despite the threat of losing use of the U.S. financial system.

I didn't see this posted anywhere and thought it worthy of a post. I find it startling this isn't being covered more readily in the MSM. Granted it was at Fox News, but I only came across it because I was reading about the World Cup. The events unfolding in the Falklands is beginning to make more sense:
www.huffingtonpost.co.uk...

Back in April, Argentina accused Britain of provocative behaviour by planning to carry out military exercises in the Falkland Islands.

www.bbc.co.uk...

Argentina has accused the UK of provocation over plans to hold military exercises in the Falkland Islands.

It said drills by British forces would include missile launches and were part of a "pattern" of "hostile acts".

The British ambassador in Buenos Aires has been summoned by Argentina's deputy foreign minister, who will protest over the "new show of military force".

The UK Foreign Office dismissed the claims as "fanciful" and said next week's exercises were "routine".

Argentina lays claim to the islands, which it calls Las Malvinas, and said the UK planned to conduct the exercises on "occupied Argentine territory" between 14 and 27 April.

Maybe I should have put this in the WWIII forum...

a reply to: GenerationGap

Argentina cannot win in a war against the UK. The Falkland Island mess was just a Thatcherism diversion to weaken the Brits labor pool to great success but had they seriously tried, they could have taken it.

Argentina's 1976 coup that overthrew Peron was done so at the behest of the US interests via the United Fruit Company. We trained them, we armed them, we taught them in the School of the Americas how to destabilize a strong economy and create a banana republic. Then we gave them our currency and 9.11 wrecked it, putting them into economic shock and civil unrest. But they agreed to be our puppets and waste their land and resources to do our bidding.

They can't be the puppet and control their own strings too.

originally posted by: GenerationGap
I didn't see this posted anywhere and thought it worthy of a post. I find it startling this isn't being covered more readily in the MSM. Granted it was at Fox News, but I only came across it because I was reading about the World Cup. The events unfolding in the Falklands is beginning to make more sense:

The fact you found it on Fox means that it is being covered on MSM. It had been on the BBC for a couple of days.

President Cristina Fernandez de Kirchner is running a dysfunctional economy that has been precarious for some time. Her policy towards the Falkland Islands has been a classic distraction techniques to fire up the nationalists and stop attention on her domestic policies.

At a time when any input into the Argentine economy would be good, their policy towards the Falklands is one of "cutting off your nose to spite your face"!

As to potential conflict with the UK (again). Not a chance. For a start, the Argentinean population would not allow it. Argentina, for its flaws, is no longer a dictatorship.

Regards

And when they lose access to the dollar, how much anybody want to bet that the BRICS with their own little version of the IMF supposed to come out any day now will give Argentina an alternative?

President Cristina Fernandez de Kirchner is running a dysfunctional economy that has been precarious for some time. Her policy towards the Falkland Islands has been a classic distraction techniques to fire up the nationalists and stop attention on her domestic policies.

a reply to: paraphi

Agree 100%

The fact you found it on Fox means that it is being covered on MSM. It had been on the BBC for a couple of days.

Which is why I stated:

I didn't see this posted anywhere and thought it worthy of a post. I find it startling this isn't being covered more readily in the MSM. Granted it was at Fox News, but I only came across it because I was reading about the World Cup.

Regardless, we seem to be in a very active news cycle. To borrow the Fabian Socialist theme of my avatar and quote: Is this the news cycle that pushes us into a new birth? The pangs have been long coming... Are the irons hot enough to strike?

a reply to: GenerationGap

Yes, it is extortion. South America should stand together.

President Cristina Fernández de Kirchner has vowed to honour Argentine debt commitments to those bondholders who entered restructuring agreements in 2005 and 2010, after learning of today's refusal by the US Supreme Court to take the case against holdout investors.

The head of state confirmed that she had instructed the Ministry of Economy and Central Bank to honour an expected payment of 900 million dollars to bondholders at the end of the month.

"[The country] will meet its obligations and it will not default on the renegotiated debt," she explained, admitting that she was "very worried" about the implications of the ruling.

Cristina also criticised the decision of the United States Supreme Court not to intervene against the 'vulture funds', stating that as well as harming the nation, the ruling would also do damage to those who chose to work with Argentina in restructuring debt after the 2001 default.

www.buenosairesherald.com...

My question is, what natural resources does the US/UK need from Argentina.?!
I think that question would answer some.

a reply to: g146541

The UK doesn't need anything in Argentina, the people of the Falklands may gain much wealth due to the resources around there but why would we want Argentina?.
The Falklands are not Argentinian, never was.

originally posted by: g146541


My question is, what natural resources does the US/UK need from Argentina.?!
I think that question would answer some.

I was curious so I looked..

Argentina is one of the biggest exporters of Biofuel, Lithium, Boron, and Strontium. Its also one the worlds top agricultural producers.
Its the 8th largest country and remains largely untapped/unexplored in terms of natural resources.

Apparently the area adjacent to the Andes is one of the most metal rich places in the world.

www.azomining.com...

a reply to: GenerationGap

G,day mate. ok the argentinian el presidenta is complaining about the brits
problem solved
we will get all the ex troopies on ATS and two truck loads of beer

we will challenge their best drinking team to a winner takes all looser has to bugga off. one truck load each.
where will we send all the argies after we win.
well mnay you ask my freind well may you ask
to New Zealand of course

a reply to: Tucket
Now, who benefits...
And Bob's your uncle!
Good sleuthing BTW.