Bank of New York Mellon Corp. must return a $539 million deposit from Argentina intended for restructured bondholders, a U.S. judge ruled, calling the transfer an “explosive action” that disrupted potential settlement talks with holders of defaulted debt.
U.S. District Judge Thomas Griesa in New York has ruled that Argentina can’t pay holders of its restructured debt without also paying more than $1.5 billion to a group of defaulted bondholders, raising the possibility of a new default as the South American nation approaches a June 30 payment deadline.
Robert Cohen, a lawyer for hedge funds holding the defaulted debt, told Griesa that Argentina “defiantly and contemptuously” violated his court orders.
The Vatican has defrocked its former ambassador to the Dominican Republic, an archbishop from Poland who was accused of sexually abusing boys while he served as the pope’s representative in the Caribbean nation.
The former archbishop, Jozef Wesolowski, 65, is the first papal nuncio known to have been removed from the priesthood because of accusations of child sexual abuse.
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.
Argentina has renewed its demand for sovereignty over the British-ruled Falkland Islands at the United Nations Security Council.
Speaking at the UN in New York, President Cristina Kirchner said: “This is not a fanciful stance. We simply want the United Nations resolution to be enforced and for our two countries to sit down and discuss this.”
Argentina is currently chairing the Security Council, and Ms Kirchner admitted it was controversial to raise the Falklands during a debate ostensibly about the UN’s ties with regional bodies.
Over in Argentina, the headlines were about a huge gas explosion in Rosario:
“Imagine a country where not only are the borders secured by armed guards, but once you entered the country, if you even spoke about politics — at all — if you even mentioned anything politically, you would be deported. Imagine a country where everyone is required to be tracked all the time. Where all of these immigrants are constantly monitored. Imagine where the idea of immigrants even having a word on the internal politics of a country would be enough to get them deported.”
“I can imagine a country like that. That country is Mexico.”
More than 99% of voters said yes, according to Darren Christie, public relations manager for the Falklands Islands government. Just three people voted no. Turnout was 92%.
The Argentinian government won’t have it, because, as the guy in the video said, “Of course [they’ll] vote that way, they’re British citizens,” but “the Falkands will always belong to Argentina” no matter what.
As one of my UGA classmates in economics used to say, “if you can’t dazzle them with brilliance, baffle them with bull s**t.”
Welcome to the Carnival of Latin America and the Caribbean. The top story in our hemisphere this week: the announcement of Venezuelan dictator Hugo Chavez’s death. While the government has announced a presidential election for April 14th, don’t expect chavismo to give up power anytime soon.
The cult of adoration is now under way, which fills a need peculiar to Latin America, as Enrique Krauze explains,
In Latin America the need to turn politicians into secular saints is due to the distrust many feel for the region’s weak institutions and a worship for so-called men on horseback—heroes who come to the nation’s rescue, said Mr. Krauze. The region’s deep Catholic tradition of anointing and then venerating saints is also an important factor, he said.
When Congress finally decided in 2012 to allow people to obtain the salary information of its employees, it also required them to find the name of each employee and submit it online. In other words, if someone wanted the information on the legislature’s 25,000-strong work force, then that person had to independently identify them and submit 25,000 separate online requests.
If only it were that easy here in São Paulo. One clerk at the state’s high court, Ivete Sartório, was reportedly paid about $115,000 after convincing her superiors that she should be compensated for not taking leaves of absence. But when asked recently about her wages, a spokesman for the court, Rômulo Pordeus, said that Ms. Sartório’s “matriculation number” was needed to request the information.
When asked how any curious taxpayer could get that number, he replied that it was in Ms. Sartório’s possession, and that he did not want to bother her about it.
Iranian President Mahmoud Ahmadinejad’s lionization of his Venezuelan friend Hugo Chávez caused a political firestorm in the Islamic Republic, as doubts arose over whether the two countries could carry on their tight alliance now that Mr. Chávez is dead.
Cristina Fernandez took out an ad in the UK’s Guardian and the Independent basically telling UK Prime Minister David Cameron to have the UK “return” the Falklands to Argentina.
Argentina’s been out of the Falklands for 181 years and got their butts kicked when they tried to invade 31 years ago, but Cristina needs a distraction from her ruinous domestic policies, and oil was found off the Falklands, hence, the ad.
a spokesman for Mr Cameron said the people of the Falklands had shown “a clear desire to remain British” and their interests would be protected.
Downing Street said the prime minister would “do everything to protect the interests of the Falklands islanders.”
Mr Cameron’s spokesman said the people of the Falklands had shown “a clear desire to remain British” and the Argentine government should respect their right to self determination.
Argentina now argues that the British planted people on the island over the last 180 years of sovereignty, and that the people currently living on the islands — which are more than 250 miles away from Argentina, by the way — should be ineligible for self-determination. It’s a cute argument, as it does away with the question of self-determination at all — but by the same measure, most Argentinians would be ineligible for self-determination, as their population came mainly from colonial expansion from a couple of centuries before. What’s the cutoff? 181 years? 241 years? 369 years?
No one can be expected to take this seriously, but Cameron is clearly taking no chances.
Cristina ought to be worrying her little Botoxed head over her domestic policies… and maybe, just maybe, over her political future if the time comes when Hugo Chavez’s demise stops those suitcases full of money that finance her campaigns.