August 1, 2014
CFK confirms pro-negotiation stance with vulture funds, demands US Judge Griesa 'fair conditions'
President Cristina Fernández de Kirchner headed this afternoon an official ceremony marking Argentina’s national Flag Day in the city of Rosario, in the province of Santa Fe.
“The world is upside down. Curiously, those who have always pointed at us as scatterbrained and unpredictable, that made sudden decisions, are precisely those who have had the world upside down for too long,” President Kirchner said as she she began to address the crowd that gathered at the city’s Flag Monument, already allowing to glimpse she would be dedicating most of a 30-minute speech to the vulture funds dispute.
Expectations have indeed ramped up as Ms. Kirchner’s message came the same week that the US Supreme Court rejected to hear Argentina’s appeal against hedge funds suing the country over its defaulted bonds. Furthermore, also this week, on Wednesday, a New York Court decided to lift an order requiring Buenos Aires to pay $1.33 billion to bondholders, a ruling that has intensified fears of default among politicians and society here.
“It has not been a year since those who last year asked us to support them in their plans to invade Syria, and now there they are talking to Syria and Iran to see if they can intervene Iraq,” the head of state continued.
“And here we are, the unpredictable, those who did not pay, still bearing that the United Kingdom continues to occupy the Malvinas Islands and we still protest politically and diplomatically.”
Negotiations and Conditions
From the Malvinas sovereignty conflict with London to the current bond dispute with US-based vulture funds that refused to enter Argentina’s debt swaps, it was just a few words away for CFK to send a first clear message to New York District Court Judge Thomas Griesa.
"There are no soft neither easy negotiations."
But there was yet a second message she would be sending to the American judge.
Tthe president recalled Argentina’s 2001-2002 “crash” and the 2005 and 2010 debt restructuring swaps reached with “92.4 percent” of the country’s creditors.
CFK continued to say that while the debt payments were complied with, “we paid all international credit organisms such as the Inter American Development Bank (BID), the World Bank” and the Paris Club group of creditors, a deal clinched back in May.
“As I said on Monday, we want to comply with 100 percent of our creditors, with the 92.4 percent who agreed on the swap and with those who did not enter. We only ask to have the fair conditions set, following Argentina’s legistation and the contract that we signed with that 92 percent,” the president stated considering it “unfair” to “protect” “1 percent” of those bondholders who refused the restructuring process “the same way” that the 92.4 percent” has to be protected.
“We want to have 100 percent (of creditors) protected and have the conditions set. We will always be willing to dialogue. I have instructed our Economy Minister (Axel Kicillof) to have our lawyers (in the United States) request the judge (Thomas Griesa) to guarantee the negotiating conditions,” Cristina Kirchner said, conditions she called to be "fair" to all parties involved in the debt dispute.
“Argentineans want to negotiate. Count on me to do what I have to do, to fufil my duty, (that is to) never raffle our country,” CFK assured and called Argentineans to "care" for their homeland.
“You should know that this president has a commitment not with her government. I have a year and eight months (to complete my term); it would be easier to do as some propose to do and agree on anything (they say). But do you know what? Rather than my administration, it is my country, my nation, my homeland that I care about first.”
CFK had already addressed the nation on Monday night questioning the decision by the US maximum tribunal. Today's was her second offical appearance in a troubled week.
The event started at around 2 pm. At the Flag Monument, a band will sang the national anthem. President Kirchner then began to address the nation in a message that was broadcast on television and radio, starting at 3 pm.
After the president’s message, the recently created Culture Ministry kicked off a series of activities with precisely Cultre Minister and singer Teresa Parodi. Bruno Airas, Liliana Herrero, the Metabombo and the Auténticos Decadentes bands will be performing also today in the province of Santa Fe.
The office run by Parodi has organized cultural activities for Sunday as well.