October 31, 2014
PRO reiterates rejection of gov't debt swap bill
PRO party lawmaker Federico Sturzenegger urged the government to “sit with the (US) judge” Thomas Griesa to “honour debt commitments” and reiterated that the center-right bloc will not back in Congress the bill pushed by the Executive to remove the bank of New York Mellon as Argentina’s trustee.
Sturzenegger said his party “will not back the plan to change (debt’s) jurisdiction because the country needs to show it is willing to play by the rules.” He added that the bill pushed by the Executive “seeks to evade a ruling by a court that the own Argentine government had accepted.”
“Argentina needs to honour its commitments, pursue better conditions and to sit with the judge to regain the credibility and trust needed to attract investments,” the lawmaker said, and pointed out that the government’s plan “does not solve the default problem and creates a new category of holdouts.”
Last week, following the Executive’s proposal of a bill to side step US court debt rulings, the Mayor of Buenos Aires City and head of PRO bloc Mauricio Macri was the first opposition leader to condemn the government’s plan. “This is clearly not the way. It pushes us away from the world,” he has said.