Thursday, July 3, 2014

OAS meeting: Kicillof calls for 'urgent solutions' against vulture funds actions

A special meeting called by the Organisation of American States (OAS) to discuss the vulture funds case began this afternoon in Washington with strong statements by its secretary-general José Miguel Insulza who warned about "the danger to the international financial system posed by the action of vulture funds."

Argentina's Foreign Minister Héctor Timerman affirmed earlier that vulture funds "seek to control the international financial system and adapt it to their needs," repeating that Argentina's conflict with holdouts "is not only an economic issue, but it's essentially political."

Economy Minister Axel Kicillof informed those present on Argentina's debt restructuring process. He blasted the US judge Thomas Griesa's ruling which according to him, "directly attacks Argentina's debt swap" and "may destroy the whole restructuring process forcing the country to pay 120 billion dollars." 

He went on to refer ironically to NML fund chief Paul Singer who "wants to look like Mother Theresa of Calcuta."