Cops welcomed with smoke bombs and flares Dublin Pride 19:57 Jul 14 0 comments Gemma O'Doherty: The speech you never heard. I wonder why? 05:28 Jan 15 0 comments A Decade of Evidence Demonstrates The Dramatic Failure Of Globalisation 15:39 Aug 23 1 comments Thatcher's " blind eye" to paedophilia 15:27 Mar 12 0 comments Total Revolution. A new philosophy for the 21st century. 15:55 Nov 17 0 comments more >>Blog Feeds
Anti-EmpireRheinmetall Plans to Make 700,000 Artill... Thu Apr 25, 2024 04:03 | Anti-Empire America’s Shell Production Is Leaping,... Wed Apr 24, 2024 05:29 | Anti-Empire Ukraine Keeps Snapping Up Chinese Drones Tue Apr 23, 2024 03:14 | Anti-Empire Moscow Is Prosecuting the War on a Pathe... Mon Apr 22, 2024 12:26 | Anti-Empire US Military Aid to Kiev Passes After Tru... Sun Apr 21, 2024 05:57 | Anti-Empire
Human Rights in IrelandA Blog About Human RightsUN human rights chief calls for priority action ahead of climate summit Sat Oct 30, 2021 17:18 | Human Rights 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | Human Rights Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights Right to Water Mon Aug 03, 2020 19:13 | Human Rights Human Rights Fri Mar 20, 2020 16:33 | Human Rights
Lockdown Skeptics
News Round-Up Sat Apr 27, 2024 02:08 | Toby Young
Serious Problems Remain: A Complete Guide to the New Draft Amendments to the WHO International Healt... Fri Apr 26, 2024 17:00 | Dr David Bell and Dr Thi Thuy Van Dinh
Sadiq Khan Under Fire for Suggesting Chief Rabbi?s Criticism of his Gaza Ceasefire Call Was Down to ... Fri Apr 26, 2024 15:00 | Will Jones
Reports of the Demise of the Scottish Enlightenment May Have Been Premature Fri Apr 26, 2024 13:00 | C.J. Strachan
The Push for Global Censorship in Australia Fri Apr 26, 2024 11:17 | Rebekah Barnett
Voltaire NetworkVoltaire, international editionIsrael's complex relations with Iran, by Thierry Meyssan Wed Apr 24, 2024 05:25 | en Iran's hypersonic missiles generate deterrence through terror, says Scott Ritter... Mon Apr 22, 2024 10:37 | en When the West confuses Law and Politics Sat Apr 20, 2024 09:09 | en The cost of war, by Manlio Dinucci Wed Apr 17, 2024 04:12 | en Angela Merkel and François Hollande's crime against peace, by Thierry Meyssan Tue Apr 16, 2024 06:58 | en |
Argentina Requests Supreme Court Reverse Federal Court Rulings that favor Predatory Hedge Funds
international |
miscellaneous |
news report
Wednesday February 19, 2014 17:02 by Arielle Retrosi
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." |
View Full Comment Text
save preference
Comments (2 of 2)