Posts Tagged ‘Cristina Fernandez’

Argentina: Pay up, Cristina

Thursday, July 3rd, 2014

Argentine Consensus Emerges: Pay Off Debt
Argentines, Business Groups and Ruling-Party Lawmakers Say the Government Should Settle Its Bondholder Debt

“The solution is to reach an agreement, and an agreement obviously means paying,” Daniel Scioli, governor of Buenos Aires province and a leading figure in Mrs. Kirchner’s Peronist movement, said in a recent televised interview.

I would not be at all surprised if she decides to default.

Argentina: SCOTUS rules for the creditors

Monday, June 16th, 2014

Two, not one, rulings regarding the 2001 defaulted bonds, upholding U.S. contract law; As I had mentioned earlier,

This is an interesting case, not just because Argentina initially had to issue the bonds with a guarantee that they would pay them in full because the country had already defaulted, but also because it may set a precedent for any future sovereign debt or municipal debt restructurings.

High Court Sides With Holdout Creditors in Argentina Debt Case
The U.S. Supreme Court handed Argentina a pair of legal setbacks in cases stemming from its 2001 default, a major blow for the country in its lengthy battle with holdout creditors

The first,

In one highly anticipated case, the justices rejected Argentina’s request that the high court intervene in litigation with holdout hedge funds that had refused to accept the country’s debt-restructuring offers.

The Supreme Court, without comment, left in place a lower-court ruling that said Argentina can’t make payments on its restructured debt unless it also pays the holdouts.

And then there’s the disclosure case,

In a second related case, the high court ruled that bank records about Argentina’s international assets can be made available to one holdout creditor seeking to collect on court judgments stemming from the default.

To add to the double whammy, the decision was 7 to 1; Lyle Denniston of SCOTUS blog explains,

Besides refusing to hear Argentina’s plea that U.S. courts had no authority to command how it, as a sovereign nation, deals with holders of its external debt, the Court silently turned aside a plea by Argentina to get an interpretation by New York state courts of just what legal obligations of equal treatment Argentina has undertaken in selling the now-defaulted bonds.

In contrast to the simple denial of those issues, the Court issued a full-dress opinion on the separate question of how wide an opportunity the holders of defaulted bonds would have to gather information from two banks about the location of Argentina’s financial assets overseas.

In an opinion by Justice Antonin Scalia, the Court rejected Argentina’s argument that those bondholders could only seek information about assets that that country keeps in the United States. Argentina had relied upon a 1976 U.S. law seeking to insulate foreign governments from some legal obligations in U.S. courts.

For one thing, Justice Scalia noted, Argentina had given up its immunity to demands for information about its assets that could be used to cover its obligations on debts. But, in addition, Scalia wrote, the 1976 law on foreign immunity simply says nothing at all about giving foreign governments immunity to demands that they produce information that may be necessary to satisfy a debt obligation they had undertaken.

This means the investors can get access to a wide number of bank records to locate financial assets overseas that they might be able to seize as compensation.

Argentina had sent a delegation to meet with Nancy Pelosi last week to discuss the debt,

Hours earlier, the Argentine delegation had lunch with former US solicitor-general Paul Clement — a legal adviser for the Argentine position against the hedge funds that have refused to restructure the country’s defaulted debt — and representatives from the Cleary, Gottlieb, Steen & Hamilton law firm.

Justice Sotomayor had recused herself.

You can read the decision in full here.

Related headlines:
Argentina debt crisis fears grow after US supreme court ruling
Share prices fall 6% as US court refuses appeal against decision in favour of creditors who bought up debt worth $1.3bn

Argentina’s bond drama: pathway to peace or a new Falklands?

Argentina Loses US Supreme Court Appeal In Key Hedge Fund Case, Now In Its 12th Year

Cristina Fernández will address the nation on television at 9 pm local time tonight.

The disgraced OAS Carnival of Latin America and the Caribbean

Monday, March 24th, 2014

LatinAmerThe big news of the week: the OAS voted on Friday to shut out the media and the public from Maria Corina Machado’s testimony, thereby disgracing itself.


Al menos seis carteles operan en Argentina.Colombianos en Rosario,mexicanos en el Norte de Buenos Aires,narcotransportistas bolivianos en la ruta 34,”la ruta blanca”,sumadas a otras organizaciones criminales transnacionales que incluyen a chinos y serbios.

Pope meets Argentine Falklands veterans and calls for South Atlantic peace
Former archbishop of Buenos Aires has previously backed Argentina’s claim on the islands

How convenient: Cristina Fernández de Kirchner turns Pope Francis from foe to friend
Argentinian president praises cardinal’s commitment and vision, despite previously treating him as a political arch-enemy

Más de dos millones de libras de coca ilegal incautada colapsan los depósitos – Erbol

Brazil’s ‘Constitution Of The Internet’ Puts Net Neutrality In The Spotlight

Brazil troops to quell Rio violenceHeavily-armed police patrol a shanty town in Rio de Janeiro, on March 13, 2014
Brazil’s government says it will send federal troops to Rio de Janeiro to quell recent attacks targeting police ahead of the World Cup in June

On Thursday, three police bases in the city were attacked by suspected gangs.

Four police officers have been killed since February in similar attacks.

6.2 magnitude earthquake hits northern Chile, no damage reported

Chile asks extradition of alleged ex-guerrilla Marie Emmanuelle Verhoeven,

The 54-year-year-old has been wanted since 1996 on an international arrest warrant for the 1991 slaying of Jaime Guzman, leader of the conservative Chilean party Independent Democratic Union.

Andres Oppenheimer: Bachelet’s Chile: moving closer to Venezuela?

Chile: huge protest to urge new president to adopt reforms, via Bad Blue.

“Colombia’s democracy is mortally wounded”; Petro


Obama Shouldn’t Forget Our Man in Havana

Uruguay’s Mujica Found Fidel Castro “Deteriorated” But Engaged

Chevron seeks $32 million in legal fees in Ecuador case

Alfonso Portillo, Ex-President Admits Taking Taiwan Bribes

Documentary: Post-quake Haiti rebuilding, a ‘Fatal Assistance

Jamaica’s gang culture
Bad Vybz

Global Economy and Development – Brookings: A HIGH-CARBON PARTNERSHIP?

US Sentences Mexican to 40 Years for Murder of Border Patrol Agent
Fourth Defendant Sentenced in Murder of U.S. Border Patrol Agent Robert Rosas

Behind the Chong Chon Gang Affair: North Korea’s Shadowy Arms Trade

Police, striking miners clash in Peru, 11 injured

Finra Examining Trading in Puerto Rico Bonds
The Financial Industry Regulatory Authority is examining trading in Puerto Rico bonds, just a week after the island territory’s $3.5 billion bond sale.

Drone Camera Corrects CNN Español Report on Caracas Demonstrations

VenEconomy: Silence Means Consent

Airlines Move to Cut Off Service to Venezuela

Earlier this month, the International Air Transport Association (IATA) warned that international airlines would likely stop serving Venezuela unless the country took steps to resolve the issue. Carriers don’t want to acquire more bolivars, which aren’t exchangeable outside the country.

Venezuela says street protests have caused $10 billion in damage

Venezuela’s protests
Inside the barrios
Support among the poor for the government of Nicolás Maduro is conditional

Can the Chavistas Save Venezuela from Cuba?

Chavistas want to save their movement from incompetent leadership and foreign interference and to protect their social base. Student protesters want to roll back the authoritarian intrusions and economic mismanagement that threaten their future. These fundamental goals are far from mutually exclusive for Venezuelans of good will looking to rescue their country.

Venezuela Battles Media, Social and Otherwise, to Restrict Protest Coverage

Venezuela Goes Mad

The week’s posts and podcast:
#SOSVenezuela: Who’s doing the killing? UPDATED

#SOSVenezuela: Yesterday’s #22M march

#SOSVenezuela, Maria Corina, and the OAS

LIVE: OAS hearing on Maria Corina Machado blacked out?

Insourcing from . . . Mexico?

Venezuela-Cuba Military Cooperation and the Narco-Terrorist Connection

En español: Terapia intensiva #200 ¡Felicidades a @DrNetas por las doscientas terapias!

Colombia: Santos wets himself UPDATED

Brazil’s high operating costs

At Da Tech Guy Blog:
Latin America: Putin gets his license

Venezuela: The Left vs. reality

Venezuela & US-Latin America stories of the week

Argentina: Goodbye, Columbus

Saturday, March 8th, 2014

Cristina Fernandez, in a snit, had a statue of Christopher Columbus taken down and a room renamed in the presidential residence: Carlos Eire describes how the Argentine president lashes out against European colonialism, ignores Cuban colonialism while at the same time redecorating the joint,

In addition to trashing Columbus and demolishing his statue, Kirchner has now renamed the Columbus Room at the presidential palace. The new politically-correct name: “The Salon of Native Peoples.”

“We will henceforth highlight the history that no one would tell us about our culture, and learn about the civilization of native peoples.”

El Periodiquito (the little newspaper) Argentinian paper says she’s obsessed, while Diario Veloz (fast journal) says she doesn’t know what to do with the statue, which was taken down in pieces.

As part of Cristina’s redecoration efforts, she’s lined a hallway in mirrors, the “The Salon of Native Peoples” has a large table with touch screens, and she personally chose during her many trips abroad the textiles and objects for her hotel, Los Sauces, located near the Perito Moreno Glacier.

It’s stuff like this that keeps me blogging, folks. You just can’t make it up.

Argentina: Same old, same old

Friday, November 29th, 2013

Cristina’s hitting the same old,

Argentina issue threats over Falkland oil
Argentina threatens fines and imprisonment for oil companies and their executives for any “illegal exploration” of hydrocarbons off the Falkland Islands

The Foreign Office added that hydrocarbons activities by companies operating on the continental shelf of the Falkland Islands are regulated by legislation of the Falkland Islands government, and in accordance with the United Nations Convention of the Law of the Sea.

Cristina will resort to any distraction from her chaotic fiscal problems and deals with Iran.

I suggest she focus on this bit of old news instead, World’s oldest prehistoric toilet unearthed in Argentina.

Argentina: Cristina gets dog, reorganizes cabinet

Tuesday, November 19th, 2013

Cristina Fernandez is baaaack. . .

the dog came from Venezuela, a gift from one of Hugo Chavez’s brothers, and apparently Simon Bolivar had one like him, Cristina named him Simon. It was a matter of minutes for Simon to get twittering @SimonCFK: “Woof”

It was a slow news day in Buenos Aires, so Cristina’s shirt made the news.

Between dog treats, Kichner Remakes Her Argentine Cabinet
Argentine President Cristina Kirchner named new officials to fill the positions of economy minister, central bank president and cabinet chief

No word as to whether the facelift was “refreshed” during her time off.

Argentina: Cristina recovering from brain surgery

Tuesday, October 8th, 2013

At the WSJ,
Argentine President Kirchner Recovering After Surgery
Buenos Aires Governor Says She Is Recovering From the Anesthesia

The 60-year-old president was diagnosed Saturday with a chronic subdural hematoma—a blood clot that developed after she suffered an undisclosed type of head injury in August. Her physicians ordered her to take a month off to recover from the hematoma. Then on Sunday, she complained of headaches, tingling sensations and loss of mobility in her left arm, prompting her medical team to recommend surgery to drain the hematoma.

Secrecy remains,

Her condition was announced in a three-paragraph statement late Saturday after she spent more than nine hours in the hospital. It said she suffered a “traumatismo cranial” on Aug. 12, but gave no details on how this injury happened.

August 11 was a rough day for the president. Despite her intensive campaigning, primary election results that night showed a significant drop in support for her party’s candidates ahead of the Oct. 27 congressional elections.

Vice president Amado Boudou is temporarily in charge of the government.

Argentina: Wall-to-wall Papal photo up

Thursday, August 1st, 2013

Cristina Fernández, who’s up for re-election in October, 2015 but desperately needs a legislative majority, is using a photo of herself and candidate Martín Insaurralde (who she hopes will be her majority leader) taken with Pope Francis:

The poster reads, “Don’t be downcast; don’t let go of hope.”

When I was in Buenos aires the week Nestor Kirchner died, leaving Cristina as widow and president, the posters of him and Cristina popped up immediately, on every subway car and station, and on every corner of the city, even in the suburb where I was staying.


Apparently the Pope photo-op is now everywhere. Cristina claims it’s not a campaign ad.

The photo was taken last week during the Pope’s visit to Brazil, which was a resounding success. Pope Francis was meeting the heads of state that came to Mass.

The Pope, who is hugely popular in Argentina (tango included), was, during his tenure as Cardinal in Buenos Aires, a big critic of the Kirchners, but now, with the poster prominently papering every public surface, Cristina’s making look like the Pope’s on her side.

Note to Cristina: Don’t drink and tweet!

Wednesday, July 3rd, 2013

Fed up as I am of the Edward Snowden espionage caper, the farcical aspects involving Latin American players keep drawing me back,

Twenty-six hours ago, Evo Morales was incidentally in the picture,

but when he flew out of Russia, his flight was detoured

DRAMA IN THE SKY: Bolivian leader’s plane rerouted on fear Snowden aboard…

Furor over denied airspace passage, refueling rights…

‘Act of aggression’ by France, Portugal, Spain…

‘Orders came from United States’…

Austria finds ‘no sign’ Snowden on board…

Bolivia enraged, accuses Austria of ‘kidnapping’…

Bolivian president’s plane leaves Austria after enforced diversion

Plane takes off after 13 hours in Vienna
• Jet was diverted amid fears Snowden on board
• France, Spain, Italy and Portugal accused of blocking airpsace
• Snowden not on board say Austrian and Bolivian officials
• Bolivia accuses United States of ‘hostile act’
• Summary of the day’s events

Over in Buenos Aires, Cristina Fernandez was having conniptions over Evo’s detouring, and she tweeted it all in her official account, @CFKArgentina, which is now suspended. Correction: Account now visible

Luckily for us, Monica Showalter copied and quick-translated Cristina’s stream of consciousness (if you want to call it that), so here it is,

Cristina Kirchner @ CFKArgentina 1h
I will warn that Ollanta is calling a meeting of UNASUR. It’s 00:25 AM. Tomorrow will be a long and difficult day. Be calm. They will not succeed.
Expand Reply Retweet Favorite More

Cristina Kirchner @ CFKArgentina 1h
I talk to Pepe (Mujica). He’s outraged. He’s right. It’s very humiliating. I will return to talk with Rafa again.

Cristina Kirchner @ CFKArgentina 1h
Evo I call again. The defense minister has been told. In Austria it’s 3AM. They will try to communicate with the authorities.

Cristina Kirchner @ CFKArgentina 1h
Well, but we can send a judge from here. Mother of God! What a world!

Cristina Kirchner @ CFKArgentina 1h
Yesss!, AN INJUNCTION. I don’t know if I should laugh or cry. You realize that those are the precautionary measures.

Cristina Kirchner @ CFKArgentina 1h
If Austria does not let you go or wants to check your airplane, you can appear before the International Court of The Hague and ask …

Cristina Kirchner @ CFKArgentina 1h
He confirms common law permits absolute immunity, received by the Convention 2004 and the Hague Tribunal.

Cristina Kirchner @ CFKArgentina 1h
“Hello, Susan.” No dear, Susana Ruiz Cerruti. Our international legal expert Chancellery …

Cristina Kirchner @ CFKArgentina 1h
CFK: “Let me call the Chancellery. I want to see jurisdiction, Treaty and Tribunal to turn to. I’ll call you back.” “Thanks mate”

Cristina Kirchner @ CFKArgentina 1h
“And I will not allow them to review my plane. I’m Not a thief.” Just perfect. Go, Evo.

Cristina Kirchner @ CFKArgentina 1h
It will take thousands of years of civilization ahead. He tells me the situation. “I’m here, in a small lounge at the airport …”

Cristina Kirchner @ CFKArgentina 1h
I call Evo. On the other side of the line, his voice quietly answers me: “Hello mate, like this?” The question to me as I am!

Cristina Kirchner @ CFKArgentina 1h
Rafael tells me he will call for an urgent emergency meeting with Ollanta Humala and UNASUR.

Cristina Kirchner @ CFKArgentina 1h
Definitely they’re all crazy. A head of State and his plane have total immunity. There cannot be this degree of impunity.

Cristina Kirchner @ CFKArgentina 1h
“Several countries revoked his flight permission and he is in Vienna,” he answers.

Cristina Kirchner @ CFKArgentina 1h
Along with Putin, Nicolas Maduro and other heads of state. “But what happened Rafael?”

Cristina Kirchner @ CFKArgentina 1h
“What? Evo? Evo Morales detained?” Immediately it came to mind to me his last picture, in Russia …

Cristina Kirchner @ CFKArgentina 1h
“Cristina. They have detained Evo and his plane, and won’t let him out of Europe.”

Cristina Kirchner @ CFKArgentina 1h
“No, what happened?” I’m in the clouds. Weird, because I am always attentive … and vigilant. But I just got out of a meeting.

Cristina Kirchner @ CFKArgentina 1h
“Hi Rafa, how are you?”. He replies halfway between angry and distressed. “You do not know what’s going on?”

Cristina Kirchner @ CFKArgentina 1h
I went to the Pink House. Olives, 21:46 pm. They advised me, President Correa is on the phone. “Rafael? What’s up?”

Which prompted unkind reactions,

This @CKFArgentina is hormonal crazy. If she manages her country the way she manages Twitter, Argentinians are as f*cked as we are.

Note to Cristina: Malbec and Twitter don’t mix.

Argentina’s La Presidenta, Cristina Fernandez Kirchner, live-tweets the latest in Snowden Caper, and special thanks to Monica Showalter for the link.

Argentina’s K Decade: 10 years of Kirchnerismo

Sunday, May 26th, 2013

As a Huge crowd cheers Argentine leader’s 10-year rule, ‘Bad vibes’ spoil Kirchners’ decade in Argentina.

“Bad vibes” is one way to call high inflation, near-default debt, persecuting economists, capital flight, takeover of private pension funds, Aerolíneas Argentinas and Repsol’s YPF, and the decline of the farming industry while the judiciary and media are under siege , and Cristina keeps making rude noises about the Falklands (between shopping trips to Paris).

Yeah, “bad vibes”.

AFP has a report in Spanish on the “K” decade,

Google no longer able to pay Android developers in Argentina, pulling apps on July 27th

Developers in Argentina have begun receiving letters from Google informing them that “Google Play will no longer be able to accept payments on behalf of developers registered in Argentina starting June 27, 2013.” The change applies to both paid apps and apps that use in-app purchases. The move appears to be related to new, restrictive regulations the Argentine government has imposed on currency exchanges, which The Telegraph detailed this past September.