Thursday, July 31, 2014

Ese río en Argentina

Does denial make it so, in Buenos Aires;
Cabinet Chief Jorge Capitanich said that "to claim that Argentina has entered into technical default is an absurd falsehood".
The people holding Capitanich's government's money have a different opinion;
The Bank of New York Mellon (BNY) sent a formal letter to holders of Argentina's exchange bonds essentially confirming that the sovereign had defaulted.
The letter confirmed that BNY, acting as trustee, was still holding the funds that would have covered the payment due by July 30 in the wake of a US court order not to release the funds.

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