That way, the next time the Argentine economy minister/negotiator extraordinaire gets huffy about why Barack Obama doesn’t just fire U.S. District Judge Thomas Griesa, or take a page from a previous Argentine regime and make him disappear or something, he can just look “separation of powers” up in the index and turn to the relevant page. We recommend dog-earing it.

“The United States can play dumb, but Judge Griesa decided to seize something that isn’t even ours. It belongs to the bondholders,” Mr Kicillof said of the $539m debt payment that the judge has frozen in a bank intermediary.

“Why doesn’t the United States government put limits on a judge? This seems like a joke.”

It sure does, Axel. But it may finally have an end, and of just the sort Argentina wants: One that doesn’t involve it actually talking with its creditors or making any sort of compromise at all. Assuming this imminent deal, unlike all of its predecessors, isn’t just another publicity stunt that doesn’t happen.

International banks and holdout creditors of Argentine debt could reach an agreement as soon as next week, sources close to the situation told IFR on Wednesday, even though the two sides have so far been unable to agree on a price for the defaulted paper….

Sources have named JP Morgan, Citi and HSBC as the potential suitors.

A deal between holdouts and private banks is seen as a way to get around the so-called RUFO clause on restructured bonds that Argentina says is a stumbling block to reaching any resolution directly with the litigants.

Argentina attacks US for ‘playing dumb’ over default [The Telegraph]
Hopes for Argentina debt deal next week: sources [Reuters]

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Comments (5)

  1. Posted by Liberty Bell | August 7, 2014 at 1:47 PM

    "You don't understand. You don't understand because you don't understand liberty. You don't understand freedom. So you put a crack in my arm like the crack in the Liberty Bell! You hear me? "

    -UBS 'Murica Quant

  2. Posted by Guest | August 7, 2014 at 2:03 PM

    Not at all surprised that Kicillof thinks that way. His country has been run into the fucking ground for decades by petty tyrants who wipe their asses with the rule of law, and he assumes that every other country is run the same way.

  3. Posted by President Obama | August 7, 2014 at 3:16 PM

    Kicilof is just confused because he watched my 2014 State of the Union wherein I consistently indicated that I can and will do as I damn well please. I'm tired of SCOTUS bitch slapping me for abuse of power while these evil Republicans in the legislative branch conspire to make me look like some well-spoken asshat that's in way over his head. My healthcare plan is not a clusterfuck, and the Republicans control the economy and are the reason the it hasn't improved (despite my administration taking credit for what little it has). It's not my fault…hope and change!!

  4. Posted by Arnod | August 7, 2014 at 9:05 PM

    Or maybe you should learn the Comity Clause….

  5. Posted by Nora | August 8, 2014 at 10:56 AM

    Because the site won't let me "like" I will copy and paste the comment : Or maybe you should learn the Comity Clause….