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Argentina Showing All Of The Urgency Of A Country Not About To Needlessly Default For The Second Time In 13 YearsBy Jon Shazar
After continuously meeting for two whole days with a mediator to try to avoid a default that it says will not be a default, before taking three days off, Argentina’s negotiators will be back at the table tomorrow to see if they can find a way to pay their bills on their terms before Wednesday’s deadline/non-deadline. They’re unlikely to do anything as crazy as actually sit down with Paul Singer and his fellow vultures, who have said that they could hammer out a deal in about 30 seconds if given a few minutes’ facetime with their excellencies, but they’re happy to rack up the frequent-flyer miles on the EZE-JFK route and spend a few more hours repeating, ad infinitum, “we need more time.”
“All negotiations related to an extremely complex issue like this one takes time,” Mr. Capitanich said.
However, Daniel Pollack, the court-ordered mediator, said that Argentine officials haven’t contacted him to arrange further meetings this week….
U.S. District Judge Thomas Griesa has ordered Argentina and hedge funds to meet “continuously” with Mr. Pollack in a bid to reach a deal ahead of a July 30 deadline on Argentine bond payments. Argentine officials met twice with Mr. Pollack last week, but declined to hold face-to-face talks with representatives for the hedge funds, which are suing to collect on debt Argentina stopped paying 13 years ago.