February 20, 2017
Thursday, August 7, 2014

‘The debt has to be paid but not at the expense of the people’

File photo of Supreme Court Chief Justice Ricardo Lorenzetti.

Supreme Court Chief Justice Ricardo Lorenzetti commented for the first time on the government’s battle against the so-called vulture funds. “The debt has to be paid,” but “with humans rights as limits,” he warned.

“The Court has expressed its opinion on the external debt, one very different from that of [US Federal] judge [Thomas] Griesa, in the Galli probe” Lorenzetti said in reference to a 2005 case where it backed the government’s restructuring strategy. “We say that the debt has to be paid but not at the expense of the People’s sacrifice”.

In 2005, the Court backed the pesification and the government’s decision to default in order to open the debt restructuring process by rejecting an appeal from two dollar-denominated bondholders –Hugo Galli and Silvia Attardi- who demanded to be paid in dollars.

“Beyond financial issues, there is the people who suffer the consequences of execution, of crisis. The debt has to be paid, but with human rights as limits,” Lorenzetti stated during a radio interview.

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Tags:  Lorenzetti  Supreme Court  debt  vulture funds  Argentina  

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