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October 31, 2014
Friday, June 27, 2014

'If Griesa blocks payment to bondholders, will damage private activity'

Ruling Victory Front party lawmaker Roberto Feletti speaks during a Lower House session.

The ball is on Griesa’s court now that the government moved to to serve its debt with bondholders and made a payment in New York yesterday, MP Roberto Feletti warned saying that a decision blocking the payment to exchange creditors would "damage the private activity."

In statements to media today, ruling Victory Front party lawmaker Feletti considered that the private activity will be negatively affected if US District Court Thomas Griesa stops Argentina from servicing its debt with bondholders that agreed to the 2005 and 2010 debt swaps.

“With the country showing payment capacity and compliance, if that money does not reach its legitimate owners, (both) the private property and the US agents obligations compliance system would be disrupted,” the head of the Lower House Budget and Revenue Committee pointed out explaining that “tension” has been now “moved” to the United States because Argentina’s dispute with vulture involves “not only an Argentine problem but a problem of the American payment system.”

“That is why lots of organisms are intervening (in the conflict); besides the support of brotherly countries, this is a key matter to a large part of the global financial system,” Feletti added referring to the backup the South American nation has rallied in recent days among regional allies, European politicians and international organisms.

According to Feletti, Buenos Aires “turned into an uneasy whiteness for capitalist sectors because it adjusted its financial reality to its productive capital when it offered to pay according to its growth.”

“That was a reasonable and successful way out. All will seek to restructure their debts since the amount of financial assets has no connection with (countries) productive capacity.”

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Tags:  Roberto Feletti  vulture funds  United States  Thomas Griesa  bondhoders  private activity  





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