Tag Archives: British bail-in gambit

Bank of New York Kicked Out of Argentina

Argentine Chief of Staff Jorge Capitanich announced in Tuesday morning’s press conference that the Central Bank’s Superintendant of Financial and Exchange Entities has revoked the operating license of the Bank of New York-Mellon, denying it the ability to maintain a … Continue reading

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Argentina Debt Battle Heads for ‘Showdown,’ as Obama Rejects Jurisdiction of the International Court of Justice

In a very brief statement Aug. 8, a State Department spokesperson announced that the Obama administration has rejected the jurisdiction of the International Court of Justice (ICJ) at The Hague, in the case brought against it Aug. 7 by the … Continue reading

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Argentina Sues U.S. Government at the International Court at The Hague

The Argentine government filed suit Thursday at the International Court at The Hague against the U.S. government, charging that it has violated its “international obligation to respect the sovereignty of the Argentine Republic, particularly its sovereign immunity.” The Court issued … Continue reading

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Evans-Pritchard Argues that Banco Espirito Santo Was Bailed Out

City of London mouthpiece Ambrose Evans-Pritchard writes that the “rescue” of Portugal’s Banco Espirito Santo was a bail-out and not quite a bail-in, and that European officials backed off on bailing in all creditors and unsecured depositors by their new … Continue reading

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New York Times Column Lambastes Judge Griesa, Appeals Court and Supreme Court on Incompetent Handling of Argentina Sovereign Bond Case

The New York Times ran a column by Floyd Norris on July 25 in its Business Section entitled “The Muddled Case of Argentine Bonds.” The significance of the article is that the author exposes that, lo and behold! Judge Griesa … Continue reading

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There Will be No Catastrophe if Argentina Defaults; It’s the Vultures Who Will be Isolated

Several Argentine economists are discussing the fact that, should Argentina default, this will not mean the end of the world. Quite the contrary. “It’s the vultures who are isolated, from an international standpoint,” said anti-IMF economist Aldo Ferrer. “Their only … Continue reading

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Meet Aurelius Vulture Fund: Argentina, Detroit, and now Puerto Rico Its Intended Victims

Panic is spreading in Wall Street, particularly among municipal-bond-holding mutual funds, as depression-wracked Puerto Rico verges on the brink of default on its public debt, which totals $73 billion. Backed by hedge funds and “buyers of distressed debt” (i.e., vulture … Continue reading

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