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November 27, 2014
Thursday, July 31, 2014

'Vulture funds want to collect Griesa's usurious sentence'

President Cristina Fernández de Kirchner adresses the press.
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.

“Default is not to pay,” insisted the President, and added that risk agencies have invented a “new, peculiar term: ‘Selective default’.”

“Conditions for default are stated in debt emission, in the contract, and a payment block is not in it,” CFK affirmed in reference of New York judge Thomas Griesa’s ruling that blocked Argentina’s payment for exchange bondholders in the Bank of New York Mellon.

Ms Kirchner assured Argentina has will to pay and will honor its commitments with the totality of bondholders, including holdouts, but the government will not pay the “usurious” amount that follows US federal judge Thomas Griesa’s sentence.

“Vultures want to collect Griesa’s usurious sentence,” the President said.

“This does not mean Argentina will not continue negotiations. We want to come to an agreement. But we have to defend our people’s interests. We want a fair and equal agreement.”

Ms Kirchner said the country will seek “other options” to solve the debt situation “within the limits of the law” as Argentina is “a Republic and any outcome will have Congress approval.”

CFK concluded by saying she feels “proud of the international support” gained while receiving “financial missiles” from “vulture funds”, and pointed out “the world keeps going” after yesterday’s failed negotiations and “so does Argentina.”
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Tags:  CFK  vultures  collect  Griesa  sentence  





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