Skip to comments.Argentina to hold last-gasp debt talks with mediator Tuesday (Default Looms Wed.)
Posted on 07/28/2014 1:13:48 PM PDT by tcrlaf
Argentina on Tuesday will meet the U.S. mediator in its battle with 'holdout' debt investors suing the country for last-minute talks to avert its second default this century.
Mediator Daniel Pollack said in a statement on Monday he received a telephone call from the Argentine government advising him a delegation of technical, financial and legal representatives will meet him at 11 a.m. EDT (11.00 a.m. EDT) on Tuesday in his office. "I again urged direct, face-to-face conversations with the Bondholders, but that will not happen tomorrow," Pollack said, referring to the holdout creditors.
Argentine dollar-denominated bonds fell more than 3 percent in over-the-counter trading before recovering some losses as the clock wound down toward Wednesday's deadline for Latin America's No. 3 economy to either pay the New York hedge funds in full or cut a deal to stave off a default
"Argentine authorities seem to have reached the conclusion that to default now and renegotiate later would be the less costly option," said Carlos Caicedo, principal Latin America analyst at IHS Country Risk.
Hey, it's all good. Just think of all those new fees the US Banks can book!!
Well, you know the axiom. It’s not the fall that will kill you; it’s the hard landing at the bottom.
The US with the current administration will not let Argentina crash and burn. That would create too potent an optic. No our leftists need their leftist hellhole to continue it’s slow decline.
Well, the can always seize private bank accounts and IRAs and give them government IOUs in return. < / sarcasm >
You mean the new COMECON?