- PHILIPPINES /USA : Stranded US Naval Warship Finally Dismantled.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- COLOMBIA : 30 May UPDATE: Premiere Of Narco Pablo Escobar Telenovela...Sets Viewer Record.
- RUSSIA : Aeroflot Fires Attendant...For Posting Middle Finger Salute Foto.
- MUSIC FOR MONDAY: From SWEDEN / AZERBAIJAN : Eurovision Winner Loreen Sings "Euphoria."
- VENEZUELA :6 March UPDATE: Shooting At Caracas Opposition Rally Wounds Capriles Supporter.
- SERBIA / HUMOR : TV Show Pranks PM...With X Rated View.
- PERU: Sand Fly Bite...Morphs Into Horror Story For American.
- ITALY : Ruby Heartstealer Testifies About Bunga Bunga Parties at Milano Trial.
- BRASIL: Footballer De Souza's Model Mistress Murder Trial Begins.
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.