- BULGARIA / RUSSIA : Moscow Hits Sofia With $1.3 Billion Claim For Failed Nuke.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- UKRAINE : 27 April UPDATE: Barbie Doll Looking Model...Defends Appearance.
- COLOMBIA : Top Pop Singer Shakira...Sued By Ex-Novio...For $100 Million.
- MEXICO / USA : Wanted Narco Billionaire's 'Daughter' Arrested In San Diego.
- RUSSIA / CHECHNYA/ FRANCE : Actor Depardieu Parties With Dictator Kadyrov.
- USA / SOCIAL MEDIA / GUN CULTURE: Santa Leaves Heat As Xmas Treats.
- MEXICO / USA: Despite Violence, Border Factories Bloom.
- MEXICO: The Growing Number Of Narco Women.
22 November 2012
ARGENTINA / USA : 24 Nov UPDATE: Cristina's Options Limited After NYC Judge Orders $1.33 Billion Payout...Or Else! With Salmon Analysis.
An NYC judge...exasperated by 10 years of litigation...ordered Argentina to pay so-called 'vulture funds'...NML Capital and others...$1.33 billion...for its sovereign bonds and interest...when it pays other holders of some $60 billion of its renegotiated sovereign debt...their $3.4 billion of interest payments due in December.
President Kirchner has long vowed to never pay 'scavenger' stakeholders for debts she calls illegitimate...because they were acquired under a dictatorship from 1976-83.
But Kirchner has few options.
District judge Thomas Griesa, 82...will allow payments put into escrow by 15 December...while Buenos Aires appeals his decision.
This is a complex legal and financial issue involving a 2001 default...2 renegotiations... and possibly a future default by Argentina.
Kirchner's popularity is also at a new low.
The decision follows by days a mammoth 24 hour national strike against her government...the biggest in a decade.
This decision is also important for the precedent it might set...for other nations...and future debt defaults...because no party would accept debt restructuring...if they could wait...sue...and eventually obtain 100%.
A top Argentine official called the decision 'judicial feudalism.' (WSJ)
TO READ : Detailed but technical analysis...by Felix Salmon.