Argentina Ready To Declare War Over Semantics - Dealbreaker

Argentina Ready To Declare War Over Semantics

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There’s been a major diplomatic incident in Buenos Aires: It seems the U.S. chargé d’affaires in Argentina has committed the unpardonable sin of telling the truth by saying that it might be a good idea for the country to “get out of default.”

Well, this did not sit well with Foreign Minister Hector Timerman, for, as you may have heard, the Argentine government is of the magical realist persuasion in which if you don’t pay your bills you’re not in default if you say you tried really hard to pay them, like by putting the onus on the Bank of New York Mellon and then firing them and throwing them out of the country, regardless of what all the ratings agencies and ISDA and everyone else says. To say otherwise would be an impermissible intrusion into the internal affairs of a sovereign country, unlike, say, suggesting that a president make a troublesome judge disappear.

Sullivan was called into the office of Foreign Minister Hector Timerman on Tuesday after Timerman issued a statement expressing "deep indignation and energetic rejection" of Sullivan's comments to Clarin.

"If this kind of intrusion into the internal affairs of Argentina is repeated, severe measures will be taken," Timerman's statement said.

Default? What default? Argentina slams U.S. for using “D” word [Reuters]

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