Upcoming Events

International | Miscellaneous

no events match your query!

New Events

International

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link US to Extend Ukraine’s Fires to 150 km... Mon Dec 05, 2022 08:46 | Anti-Empire

offsite link Podcast Mon Dec 05, 2022 03:26 | Anti-Empire

offsite link Paywalls and Stuff Sat Dec 03, 2022 22:43 | Anti-Empire

offsite link Ukraine and Wagner Team Up in the Murder... Sat Dec 03, 2022 07:40 | Anti-Empire

offsite link So Much for Counter-Battery Fire: Ukrain... Thu Dec 01, 2022 07:37 | Anti-Empire

Anti-Empire >>

Human Rights in Ireland
A Blog About Human Rights

offsite link UN human rights chief calls for priority action ahead of climate summit Sat Oct 30, 2021 17:18 | Human Rights

offsite link 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | Human Rights

offsite link Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights

offsite link Right to Water Mon Aug 03, 2020 19:13 | Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

Human Rights in Ireland >>

Voltaire Network
Voltaire, international edition

offsite link Death of David Ray Griffin Fri Dec 02, 2022 06:31 | en

offsite link David Brock, Clintons agitprop man, zeroes in to rescue the Bidens Fri Dec 02, 2022 05:16 | en

offsite link Poisons in the World Cup, by Manlio Dinucci Thu Dec 01, 2022 04:55 | en

offsite link Voltaire, International Newsletter N°16 Wed Nov 30, 2022 12:48 | en

offsite link Only the plurality of information can prevent war, by Thierry Meyssan Tue Nov 29, 2022 07:00 | en

Voltaire Network >>

Argentina Requests Supreme Court Reverse Federal Court Rulings that favor Predatory Hedge Funds

category international | miscellaneous | news report author Wednesday February 19, 2014 17:02author by Arielle Retrosi Report this post to the editors

Argentina officially requested that the US Supreme Court hear an appeal in a debt case that will impact people living in extreme poverty around the world. The case dates back to Argentina's 2001 default, after which 92% of all Argentine bond holders restructured their defaulted debt. Predatory hedge fund, NML Capital leads a small group of holdouts who won judgments for payment in lower US Courts. NML Capital never invested in Argentina and bought the debt cheaply after Argentina's default. Because sovereign lending is contracted in the United States, the precedent the case sets impacts some of the poorest economies around the globe and allows these hedge funds to target assets that benefit poor people. The International Monetary Fund, the Paris Club, legitimate investors, the US and most governments oppose this predatory behavior because it cancels the benefits of debt relief, makes sovereign debt restructuring more difficult and limits credit to poor countries

"This particular legal case will have some of the most significant impacts on global poverty in our lifetimes," shared Eric LeCompte, Executive Director of Jubilee USA Network, a religious antipoverty organization. "It's encouraging that there is a global chorus that decries this harmful predatory behavior."

The religious community and antipoverty advocates continue to monitor the case because it impacts those living in extreme poverty. In late April, the US Supreme Court is hearing a separate but related case between Argentina and the same holdouts led by NML Capital. The Supreme Court will determine when and where certain Argentine assets can be targeted for payment collection. The United States government has filed in support of Argentina for the April hearing.

Jubilee USA Network is an alliance of more than 75 US organizations, 400 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

author by jabawokpublication date Wed Feb 19, 2014 21:14author address author phone Report this post to the editors

I believe it is time for the little man stop playing by the rules of others, political representation is a myth, play by your rules, put your life and your family's life first and where ever possible be self sufficient, stop reading, listening and watching the Capitalist owned media.
Argentina should only accept the American Supreme Court decision if it goes Argentina's way .

author by fredpublication date Thu Feb 20, 2014 16:20author address author phone Report this post to the editors

You're right jabawok but the US have a lot of weapons including over 5,000 nukes, and are batshit insane
People are scared of them.
That's why they play it their way.

Who says nukes are never used. The threat of them hangs over everything the US says and does. Surely that's considered use of nuclear weapons? You don't need to actually fire them for them to be useful.

 
© 2001-2022 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy