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Thursday, November 22, 2012

Argentina says Judge Griesa's ruling 'unfair,' to request revision on Monday

Economy Minister Hernán Lorenzino.

Economy Minister Hernán Lorenzino assured during a press conference that "paying off the vulture funds is illegal," and said that the ruling by US District Judge Thomas Griesa against Argentina is "unfair."

The minister also warned that Griesa's ruling might affect the international financial system, and the country as well.

He added Argentina will present a revision request next Monday, in order to review the ruling. "Besides, Judge Griesa doesn't have the power to define this current situation," Lorenzino continued.

"We are going to maintain Argentina's position in every available way, as we have been doing so far," Lorenzino said, as he reminded that the government will face "every decision that are against Argentina's interest before the Supreme Court and international tribunals."

In a ruling the US District Judge rejected Argentina's request to maintain his previous order halting payments to holdout investors who did not participate in two bond exchanges of defaulted sovereign debt.


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Tags:  US  Griesa  Court  Argentina  bonds  bondhoders  Lorenzino  


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