Argentina will not pay creditors who own defaulted bonds despite a U.S. federal appeals court ruling in favor of the holdout creditors, the economy minister was quoted as saying in an interview published on Sunday.
The 2nd U.S. Circuit Court of Appeals in New York last month ruled that Argentina discriminated against bondholders who refused to take part in two debt restructurings as the nation tried to recover from a $100 billion default a decade ago. The decision upheld a ruling by U.S. District Judge Thomas Griesa.
Max Keiser
Financial War Reports
How come a court in US can tell foreign nations what they can and can’t do even on unsecured bonds? It’s Argentina’s decision on whether to pay and who to pay and how much to pay.
Of course they discriminated. So what? It’s not against the law!
Hip hip hooray, Argentina. “Don’t cry for THEM, Argentina.”
America’s populace is brain dead.
http://www.youtube.com/watch?v=_aC3TC1BsPw&list=UUnsUaXejSLQrfjyszAaOGcA&index=1&feature=plcp