Saturday, October 10, 2015

'Vulture' funds dispute not to be 'easily' settled - Zannini

Carlos Zannini speaks during a Congress hearing.

Victory Front (FpV) candidate to the vice-presidency Carlos Zannini warned Argentina’s legal dispute against so called “vulture” funds won’t be “easily” settled, questioning statements by Salta province governor Juan Manuel Urtubey who publicly said the country should pay hedge funds.

“If (Urtubey) has said that we have to pay in anyway, he is wrong, says it someone within my party or any party,” Zannini affirmed today in an interview with the Radio Nacional Rock station, considering the legal battle against the group of holdouts that refused to enter Argentina’s 2005 and 2010 debt restructurings – representing only less than the 7 percent of the country’s creditors that did accept the agreement -, “is not a matter that will be easily resolved.”

“Saying that it can be solved may sound great in the campaign, but it is not a matter that will be easily resolved,” the current Legal and Technical secretary to the presidency affirmed.

Zannini explained that “conditions could be opened or not” to further negotiations, also depending on the course of the “global economy.”

“Griesa can not set himself up as the judge of the Argentine debt restructuring,” Daniel Scioli’s running mate said questioning US Judge Thomas Griesa who ordered Buenos Aires to pay “vulture” funds in full.

“I don know what it will be offered to them or who is going to talk with them.”

Zannini said “Argentina is a country that has been complying” with its debt commitments, pointing out this week’s payment of the Boden 2015 represents “the first time in the Argentine history that a government pays what it has issued.”