Buenos Aires – Argentina feels mistreated and feels pressured in the debt crisis of the federal government. Berlin had a “hostile attitude” towards Argentina’s restructuring efforts, the Cabinet chief Jorge Capitanich said on Wednesday. The government of Chancellor Angela Merkel (CDU) have benefited in this way the hedge funds, which have forced the suspension of payment of the Argentine public debt in a process in the United States.
Previously, the lobby group American Task Force Argentina had ( ATFA) full-page ads in local newspapers switched. This German Finance Minister Wolfgang Schäuble (CDU) was quoted as saying that the Argentine policy a “prime example of Unsolidität” was. Argentina live for decades beyond its means, not its Operating the debt and was largely cut off from international payments, Schaeuble said in Berlin in late August. From the German Embassy in Buenos Aires no comment was initially obtained.
The lobby group ATFA is supported among others by Elliott Associates, the financial empire of U.S. billionaire Paul Singer, whose hedge fund NML Capital in New York has won a lawsuit against the government in Buenos Aires. The dispute goes back to the state bankruptcy of Argentina in 2002. While the government agreed in subsequent years with most creditors on a debt and an exchange of bonds, bought some hedge fund debt at a deep discount and are now demanding a full payment. The rejects Argentina. But
A U.S. court ordered that the owners of the Bonds may only be paid if the government uses the hedge fund that had not joined the rescheduling agreement. Because Argentina refused to do so, entered a default. The technical failure of the government blocks access to the bond market and prepares the Argentine economy increasingly problems.
Kirchner complains about “economic terrorists”
President Cristina Fernández de Kirchner called on the UN to stop attacks by financial speculators. In her speech to the UN General Assembly in New York, the Argentine government boss scolded investors on Wednesday (local time) as “economic terrorists, bring poverty, misery and hunger”. This “vulture funds” are not only a threat to their country, but for the whole world.
The country fought before the bankruptcy of high inflation and a sharp fall of the currency. But in the second quarter, the economy grew again. The gross domestic product has risen by 0.9 percent compared to the first three months of the year, the statistics office of the South American country said on Wednesday. Pulses had expected, especially from agriculture economists. However, compared to the previous quarter, the economy stagnated.
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