Subscribe free to our newsletters via your
. Military Space News .




POLITICAL ECONOMY
Argentina: Hedge funds to blame for woes
by Staff Writers
Buenos Aires (UPI) Jan 11, 2013


disclaimer: image is for illustration purposes only

Argentine President Cristina Fernandez de Kirchner says economic predators and hedge funds are to blame for the country's financial troubles.

Fernandez launched a spirited attack on international financial community and market players as she led a lavish celebration to welcome Argentine naval ship Libertad, which sailed home from Ghana after more than two months of an acrimonious detention in the West African country.

Libertad was seized in Ghana following legal action by an investment company seeking to recover money owed by Argentina since its 2002 debt default.

Argentina is still denied access to international markets. Delays in repaying debts since the default have earned Argentina the ire of U.S. President Barack Obama, who withdrew preferential trade privileges for the country.

Fear of creditors has also led Fernandez to avoid use of the presidential jet in case it is impounded the same way as Libertad was through creditor action.

Thousands of people lined the Argentine harbor at Mar del Plata to welcome the ship. Release of the vessel from Ghana came after a U.N. court ordered its release.

The vessel was prevented from leaving Ghana Oct. 2, 2012, following a complaint from NML Capital, one of Argentina's numerous creditors.

Fernandez said the Libertad's return was a victory for Argentina's struggle against what she called international extortion.

"We're going to keep on fighting because no one's going to get anything out of Argentina with extortion," Fernandez told a cheering crowd.

NML Capital, a subsidiary of U.S. hedge fund Elliot Capital Management, says it is owed $370 million since Argentina's default. It tried and failed to recover $20 million of the reported debt in return for the ship's return.

Argentina's defense that the naval ship had immunity as a military vessel won it the argument that led to Libertad's release but creditors are poised to seize Argentine assets whichever way they can.

Fernandez said her government was "accustomed to external, internal and even underground pressures" but declared "no one will ever obtain anything from Argentina by extortion and by force."

Fernandez also used the celebration to rail against Britain over Argentina's territorial claims over the Falkland Islands, a British Overseas Territory. Argentina claims sovereignty over the islands, which its military-led government invaded in 1982.

A resulting conflict with Britain caused the deaths of 649 Argentine troops, 255 British military personnel and three Falkland Islanders.

Argentina appears to have torn up the official surrender document at the end of that war, reviving Falklands claims with a more energetic international campaign.

In her latest speech, Fernandez said Britain is militarizing the South Atlantic territory, and accused Britain of threatening Argentina.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
Japan premier unveils $226.5 bn stimulus package
Tokyo (AFP) Jan 11, 2013
Japan's new government unveiled a $226.5 billion stimulus plan Friday in the latest bid to boost the world's number three economy, with plans to rebuild disaster-hit areas and beef up the military. Japanese investors welcomed the news, with the Nikkei index surging to a 22-month high and the yen tumbling, but some analysts questioned its long-term effect and warned it could lead to more mise ... read more


POLITICAL ECONOMY
Russia to add 3 new anti-missile radars

Dutch Patriot missiles head for Turkey's Syria border

US Patriot missiles begin arriving in Turkey

Patriot missile troops in Turkey as Syria war worsens

POLITICAL ECONOMY
Short-range ballistic missile again fired in Syria: NATO

Iran develops new missile launcher

Thatcher 'warned France to cut off Exocets in Falklands war'

Raytheon awarded $254.6 million for Tomahawk missile

POLITICAL ECONOMY
Elbit Systems to Supply Long-Range Observation Systems to the Israeli Ministry of Defense

US Army Awards AeroVironment Small Unmanned Aircraft Systems Contract

Northrop Grumman Building Company-Owned UAVs For Navy

Northrop Grumman Delivers Global Hawks to USAF

POLITICAL ECONOMY
MUOS Waveform Will Improve Secure Communications Capabilities

DARPA selects SwRI's K-band space crosslink radio for flight development as part of System F6 Program

BAE pulls out of Australian comms tender

Can You Program a Radio to Dominate the Spectrum?

POLITICAL ECONOMY
Elbit Systems to Supply the Israeli Ministry of Defense with Cardom Artillery Systems

British military drops US pistol for Austrian gun

Raytheon's Quick Kill System Defeats Lethal Armor-Piercing RPGs

SAIC Awarded Contract By U.S. Army Environmental Command

POLITICAL ECONOMY
US military ordered to prepare for fiscal 'perfect storm'

Ex-Russia defence chief faces graft charges

Dassault, India tussle over supply chains

Associate of arms trafficker Bout arrested in Australia: US

POLITICAL ECONOMY
Japan PM fires fresh broadside at China in row

Hong Kong reporters slam bid to curb information

China paper says regulation must 'keep pace with times'

Japan scrambles jets against China military planes

POLITICAL ECONOMY
Nanoparticles reach new peaks

Oh, Christmas tree, oh Christmas tree

Britain to fund graphene research efforts

Synthetic and biological nanoparticles combined to produce new metamaterials




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement