Tuesday, November 11, 2014

Capitanich: 'If this is the US Judiciary, we are faced with a problem of immeasurable proportions'

Cabinet Chief Jorge Capitanich speaks at the government house.

Cabinet Chief Jorge Capitanich considered the decision of US judge Thomas Griesa to allow Citigroup to process an u$s 85 million payment by Argentina on restructured bonds under local laws as “not serious” and condemned the judge’s “partial decisions that respond to pressure from vulture funds.”

“This is absurd. Griesa for ‘the third unique time’ allows payment under Argentinean law,” Capitanich stated in his daily press conference at the goverment house. “If this is (a sign of) the serious US Judiciary (…), the highest judicial authority for international payments, then we are faced with a problem of immeasurable proportions,” he added.

The chief of ministers said that Griesa “has authorized the payment of bonds with final maturity in December but postponed the solution of substantial issues.” The judge has called off a hearing scheduled for December 9 and briefing will be deferred until 2015.

Capitanich stated that the US judge’s decision “stresses the judge’s partiality towards the legal representatives of vulture funds” and pointed out that his rulings have only “brought confusion and uncertainty” to the case.

BEFORE US JUDICIARY

The Kirchnerite official also denied reports by the Wall Street Journal of Banco Nación New York subsidiary being investigated by the US Judiciary for allegedly moving funds related to black-market dollar operations.

“There is no judicial investigation against Banco Nación in the US for money laundry,” Capitanich stated, adding that the bank “complies with regulations” and “regular controls.”