Fausta's Blog

American and Latin American Politics, Society, and Culture

July 3, 2014 By Fausta

Argentina: Pay up, Cristina

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.


Share

Filed Under: Argentina, business Tagged With: Cristina Fernandez, Cristina Fernandez de Kirchner, Fausta's blog

June 16, 2014 By Fausta

Argentina: SCOTUS rules for the creditors

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.


Share

Filed Under: Argentina, business, Nancy Pelosi, SCOTUS Tagged With: Cristina Fernandez, Fausta's blog, Ltd., NML Capital v. Argentina, Republic of Argentina v. NML Capital

March 24, 2014 By Fausta

The disgraced OAS Carnival of Latin America and the Caribbean

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.

ARGENTINA
ARGENTINA Y EL NARCOESTADO (PARTE II)

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

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

BRAZIL
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.

CHILE
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
“Colombia’s democracy is mortally wounded”; Petro

CUBA
CUBA GIVES DOCTORS BIG PAY RAISE–TO $64 A MONTH

Obama Shouldn’t Forget Our Man in Havana

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

ECUADOR
Chevron seeks $32 million in legal fees in Ecuador case

GUATEMALA
Alfonso Portillo, Ex-President Admits Taking Taiwan Bribes

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

JAMAICA
Jamaica’s gang culture
Bad Vybz

LATIN AMERICA
Global Economy and Development – Brookings: A HIGH-CARBON PARTNERSHIP?
CHINESE-LATIN AMERICAN RELATIONS IN A CARBON-CONSTRAINED WORLD

MEXICO
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

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

PERU
Police, striking miners clash in Peru, 11 injured

PUERTO RICO
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.

VENEZUELA
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

Podcast:
Venezuela & US-Latin America stories of the week


Share

Filed Under: Argentina, Bolivia, Brazil, Carnival of Latin America, Carnival of Latin America and the Caribbean, Chile, China, Colombia, Cuba, Ecuador, Guatemala, Haiti, Jamaica, Latin America, Mexico, Panama, Peru, Pope Francis I, Puerto Rico, Venezuela Tagged With: Adidja “Vybz Kartel” Palmer, Alfonso Portillo, Chevron, Chong Chon Gang, Cristina Fernandez, Fausta's blog, Pope Francis I

March 8, 2014 By Fausta

Argentina: Goodbye, Columbus

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.

Share

Filed Under: Argentina Tagged With: Christopher Columbus, Cristina Fernandez, Cristina Fernandez de Kirchner, Fausta's blog

November 29, 2013 By Fausta

Argentina: Same old, same old

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.


Share

Filed Under: Argentina, Great Britain, oil Tagged With: Cristina Fernandez, Cristina Fernandez de Kirchner, Falkland Islands, Fausta's blog

November 19, 2013 By Fausta

Argentina: Cristina gets dog, reorganizes cabinet

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”

GUAU

— Simón Nac & Dog (@SimonCFK) November 18, 2013

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.

Share

Filed Under: Argentina, dogs Tagged With: Cristina Fernandez, Fausta's blog, Simon Bolívar

October 8, 2013 By Fausta

Argentina: Cristina recovering from brain surgery

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.


Share

Filed Under: Argentina, news Tagged With: Amado Boudou, Cristina Fernandez, Fausta's blog

August 1, 2013 By Fausta

Argentina: Wall-to-wall Papal photo up

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.

SANYO DIGITAL CAMERA

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.


Share

Filed Under: Argentina, Catholic Church, Pope Francis I Tagged With: Cristina Fernandez, Fausta's blog

  • 1
  • 2
  • 3
  • …
  • 7
  • Next Page »
Tweets by @Fausta
retirees_raise-2015_300x250

Pages

  • About
  • Email

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Previous Posts

  • Mrs. Maisel goes full Alinsky on Mrs. Schlafly
  • Venezuela: Did the Minister of Defense back out at the last minute?
  • You need to unfriend me
  • Go ahead and Kiss the Girl, if you dare
  • Ashamed

Recent Comments

  • John on Mrs. Maisel goes full Alinsky on Mrs. Schlafly
  • Today’s hot topics: Democrats’ collusion shift, tax-return rift, Venezuela drift, and more! – PoliticalWitchDoctor.com on Venezuela: Did the Minister of Defense back out at the last minute?
  • Today’s hot topics: Democrats’ collusion shift, tax-return rift, Venezuela drift, and more! - AmericanTruthToday on Venezuela: Did the Minister of Defense back out at the last minute?
  • Did Venezuela’s Minister of Defense Back Out At The Last Minute? on Venezuela: Did the Minister of Defense back out at the last minute?
  • Roseanne Not Back, Khan not Invited, Operaman’s back, Jobs back, Fausta’s back (but not here yet) Thoughts under the fedora – Da Tech Guy Blog on Venezuela: Did the Minister of Defense back out at the last minute?

Archives

  • 2019
    • December 2019
    • May 2019
    • January 2019
  • 2018
    • December 2018
    • October 2018
    • July 2018
    • June 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
  • 2017
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
  • 2016
    • December 2016
    • November 2016
    • October 2016
    • September 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • January 2016
  • 2015
    • December 2015
    • November 2015
    • October 2015
    • September 2015
    • August 2015
    • July 2015
    • June 2015
    • May 2015
    • April 2015
    • March 2015
    • February 2015
    • January 2015
  • 2014
    • December 2014
    • November 2014
    • October 2014
    • September 2014
    • August 2014
    • July 2014
    • June 2014
    • May 2014
    • April 2014
    • March 2014
    • February 2014
    • January 2014
  • 2013
    • December 2013
    • November 2013
    • October 2013
    • September 2013
    • August 2013
    • July 2013
    • June 2013
    • May 2013
    • April 2013
    • March 2013
    • February 2013
    • January 2013
  • 2012
    • December 2012
    • November 2012
    • October 2012
    • September 2012
    • August 2012
    • July 2012
    • June 2012
    • May 2012
    • April 2012
    • March 2012
    • February 2012
    • January 2012
  • 2011
    • December 2011
    • November 2011
    • October 2011
    • September 2011
    • August 2011
    • July 2011
    • June 2011
    • May 2011
    • April 2011
    • March 2011
    • February 2011
    • January 2011
  • 2010
    • December 2010
    • November 2010
    • October 2010
    • September 2010
    • August 2010
    • July 2010
    • June 2010
    • May 2010
    • April 2010
    • March 2010
    • February 2010
    • January 2010
  • 2009
    • December 2009
    • November 2009
    • October 2009
    • September 2009
    • August 2009
    • July 2009
    • June 2009
    • May 2009
    • April 2009
    • March 2009
    • February 2009
    • January 2009
  • 2008
    • December 2008
    • November 2008
    • October 2008
    • September 2008
    • August 2008
    • July 2008
    • June 2008
    • May 2008
    • April 2008
    • March 2008
    • February 2008
    • January 2008
  • 2007
    • December 2007
    • November 2007
    • October 2007
    • September 2007
    • August 2007
    • July 2007
    • June 2007
    • May 2007
    • April 2007
    • March 2007
    • February 2007
    • January 2007
  • 2006
    • December 2006
    • November 2006
    • October 2006
    • September 2006
    • August 2006
    • July 2006
    • June 2006
    • May 2006
    • April 2006
    • March 2006
    • February 2006
    • January 2006
  • 2005
    • December 2005
    • November 2005
    • October 2005
    • September 2005
    • August 2005
    • July 2005
    • June 2005
    • May 2005
    • April 2005
    • March 2005
    • February 2005
    • January 2005
  • 2004
    • December 2004
    • November 2004
    • October 2004
    • September 2004
    • August 2004
    • July 2004
    • June 2004
    • May 2004
    • April 2004
    • March 2004
Content Copyright Fausta's Blog

Site Developed and Managed by 300m.com