August 1, 2014
President Cristina Fernández de Kirchner said today she will not "sign an agreement" that compromises the country's future, while blasting "vulture funds" for wanting to "collect Griesa's usurious sentence", following the failure of the negotiations between the country and holdouts over Argentina's defaulted debt on Wednesday.
Economy Minister Axel Kicillof today insisted Argentina will not pay “vulture funds” or “anyone who buys their bonds” a higher amount than the negotiated in the 2005 and 2010 debt swaps, saying the latter would also trigger the RUFO clause.
Kevin Sullivan, US interim ambassador in Argentina affirmed today the country must seek “practical solutions” with the so called vulture funds over defaulted bonds.
Dow Jones has reported JPMorgan was discussing buying Argentina’s sovereign debt from vulture funds suing the South American country over its defaulted bonds. “Fluid” was how the US agency described talks between JPMorgan and hedge funds.
As private banks were still trying to reach an agreement with the holdouts, Cabinet Chief Jorge Capitanich highlighted that any deal between the two parties “does not involve the state” and stressed the importance to avoid triggering the Rights Upon Future Offers (RUFO) clause.
The International Swaps and Derivatives Association (ISDA) said today it had received its first request to consider whether a credit event had occurred, according to the ISDA website.
US stocks fell more than 1 percent today, with the S&P 500 on track for its worst daily decline since April and first monthly drop since January, as concerns mounted over the strength of overseas economies and ongoing tensions with Russia.
Chris Gunnes is a spokesman for the United Nations Relief and Works Agency (UNRWA). He granted a live interview to Al Jazeera and collapsed into uncontrollable tears as he described the deadly shelling of a UN school in Gaza.
President Cristina Fernández de Kirchner published a press release in her Twitter account where she made Israel responsible for the safety of Argentine priest Jorge Hernández, who serves in the Gaza strip, and warned that any harm done to him “will have severe consequences for the bilateral relations.”
Decision by holy see
Pope Francis is taking action in a divisive diocese in Paraguay where an Argentine priest, accused by a former superior of being a “serious threat to young people,” has been removed as the No. 2.
By Vera Von Kreutzbruck
With the conflict in Gaza worsening by the day, horrifying images emerging from the territory and the death toll now reaching more than 1,300, several Latin American countries have united their voices to condemn the Israeli military offensive by recalling their ambassadors from Tel Aviv.
One man was fatally shot and another wounded today in an apparent murder-suicide attempt in a building in the heart of Chicago's financial district, police said.
The Republican-led US House of Representatives cleared the way for the launch of a lawsuit accusing US President Barack Obama of overstepping his authority in carrying out his signature healthcare law.
The US judge overseeing Argentina's dispute with a group of creditors said a hearing he has set for Friday morning in the case will be "regarding the recent default by the Republic of Argentina," according to a court filing.• Why a new default is not same as 2001’s
Fitch rating agency has officially downgraded Argentina's sovereign debt grade to the category of “restrictive default”, as it considered the country failed to make payment of its Discount bonds on July 30.
Shares and bonds plunged as investors react to the failed negotiations between Argentina and the holdout hedge funds in New York. At the Buenos Aires City stock market the Merval index closed down by 8.4% to 8,187.99 points, far from yesterday’s record 6.9% climb.
The “blue” dollar climbed 40 cents to 12.70 pesos today, after the government failed to reach an agreement with holdouts in New York to avert default. The official dollar closed up by a cent to 8.23 pesos in Buenos Aires City banks and foreign exchange offices.
The Bank of New York Mellon (BNY) sent a formal letter to holders of Argentina's exchange bonds essentially confirming that the sovereign had defaulted.
The Italian bondholders' legal representative Tullio Zembo said that the agreement private banks and holdouts are currently working on would trigger the Rights Upon Future Offers (RUFO) clause.
Daniel Pollack, the mediator appointed by judge Thomas Griesa to oversee negotiations between the Argentine government and holdout investors, today confirmed that talks were unsuccessful between the two parties and that Argentina had fallen into default.• Daniel Pollack's complete statement
The US Centers for Disease Control and Prevention issued a travel advisory against non-essential travel to Guinea, Liberia and Sierra Leone in an effort to curb the spread of the ebola outbreak in West Africa that has so far claimed more than 700 lives.
Argentina’s national team will be playing Spain’s World Cup without Emanuel "Manu" Ginóbili as San Antonio Spurs denied permission to the Argentine guard based on a FIBA-NBA clause that restricts players participation in tournaments in case of a "reasonable medical concern."
SOCCER — NATIONAL TEAM
Gerardo Martino, who coached Barcelona last season and has therefore worked closely with Lionel Messi and Argentina’s midfield general Javier Mascherano, is the main candidate to substitute Sabella.
The father of Juventus forward Carlos Tevez has been released after being kidnapped for more than eight hours in the city of Morón, in Buenos Aires province. The player later thanked those who had sent their support during the ordeal.• 'We will find those responsible' • 'We are working to find the kidnappers'
By Luciana Bertoia
Grandmother of Plaza de Mayo Angélica Chimeno de Bauer passed away yesterday. Her remains were buried in Ayacucho, Buenos Aires province, as fellow Mothers and Grandmothers paid their respects to this life-long fighter.
Argentina captain Lionel Messi and FIFA president Sepp Blatter are among leading figures in world soccer expected to attend the wake of former Argentine FA president Julio Grondona today.• Condolences take over social media • Argentinos' Segura to take over at AFA • This too shall pass
In a sign of his political power and success as the head of Argentine soccer, Julio Grondona’s rule as president of the Argentine Soccer Association (AFA) has run for longer than the current period of uninterrupted democratic rule.
By Daniel Edwards
It was a phrase cited half-joking, half in deadly sobriety. The only way that Don Julio Humberto Grondona would vacate his stronghold in the Argentine Football Association (AFA), the saying went, was when he departed finally from this world.
By James Grainger
Julio Humberto Grondona, FIFA senior vice-president, was for the past few decades the second-most powerful man in world soccer.
Michael Soltys / Senior Editor / Economic Outlook
Eric Weil / Sportsworld
By Janine Zacharia
When Israel launched Operation Cast Lead in 2008 to stop Hamas rocket fire from the Gaza Strip, Israeli journalists were hungry to cover the military operational details. What didn’t interest most newspapers or newscasts was the wider impact on the other side, especially the civilian death toll.
Sources in the US Consulate in Buenos Aires said they are not taking any interviews for visa applications as requested by the US Department of State, but expressed optimism that the problem, which is global, will be solved soon.