Argentine Politics Thread

We're firmly putting the Hand Of God into Never Live It Down territory then?

Given how the symbol of this world cup looks I'd say its already happened.

Oh, it's a lot more than that. Drugging Brazil in Italy in 1990 is simply one highlight, but there was also Simeone's dive in '98. Not to mention the persistent allegations/rumours surrounding the involvement of the Process in the result of the '78 world cup.

edited 8th Jun '14 5:49:03 AM by Achaemenid

Is there a forum thread for the World Cup? Sorry to deviate.

I think there's a generic football thread somewhere in the right column.

There's A Beautiful Thread for the Beautiful Game over in Yack Fest

EDIT: Polandball.◊ Poor Argentina. Cannot into Falklands and cannot into white...

edited 8th Jun '14 1:02:58 PM by Achaemenid

As Bond deadline looms, Argentina moves closer to another default — Argentina's going to Default. Again.

Hands up, anyone surprised by that news.

<wonders how low she can go...>

Can she go down low? all the way to the floor?

couldn't resist.

Trying! I want my hand as far down as possible.

But, seriously: I don't know how the Argentine government is going to dig themselves out of this. Continued defaulting is unlikely to help. But, it's not like they can just afford to pay every debt they owe, either.

And, restructuring has just got vastly more difficult to do. If there's a way out, I'm not spotting it. -_-

I'd say at some point people will stop lending, but we know they won't.

Banks don't seem to realize countries aren't like house mortgages. a country stops paying you can't take their house AND what they've already paid.(Can try to steal their navy's boats though )

Massive inflation and money printing?

The ol' "heat their homes with money" approach?

It should also be mentioned that currently the vice-president is being investigated for corruption from when he was the economic minister in a deal to finance the cancelation of the debt and banckrupcy of a printing company that then became the company that prints the money, the case is in court and last friday the judge decided to process him (no idea if that is the correct term to say it in english) so now it is starting the criminal procedure against the vice-president.

edited 1st Jul '14 8:28:37 PM by joaqs

Most likely. We are truly screwed. There are two ways out for Argentina and neither is pretty:

a) We pay 1.3 billion dollars plus interests in mostly bonds to the Elliot fund before July 30th to avoid default and pay to the other holdouts when the court orders us to. This amounts to 7-15 billion which we don't have at the moment and probably won't have until 2017 at least. The problem with this is that it might trigger the RUFO clause in the contract we signed on the last restructuring (this is up to interpretation of the contract) and if it does, it could add up to 120 billion to our stack of debt, which is no good and is the reason we are in this dilemma. Nestor Kirchner and Roberto Lavagna are the ones to blame. It also means we are borrowing to be able to borrow more to be able to get the investments we need to pay debt, but that's kinda how the current financial system works.

b) Default and restructure the whole debt again, with a lower haircut, no RUFO clause, a collective action clause and possibly in another jurisdiction. This could lead to yet another financial meltdown in the short term of course.

Note that option a) COULD lead to b) if we aren't lucky, also the next government might need to ask for another bailout. A bailout would require the government to follow the IMF "recommendations" and most importantly, to audit all the books from the Kirchner government. Obviously, CFK would never allow an audit as long as she is in power, because then people would find out how much her government has stolen from the people.

edited 2nd Jul '14 11:17:24 AM by Magnusmaster

Bumping this up, because apparently next (local time) midnight Argentina is going to go bankrupt or have to pay money to these funds.

Hmm... I knew I should have bought popcorn when I went to the supermarket... (although, I didn't know what for).

This is going to get messy. -_-

edited 30th Jul '14 1:37:12 PM by Euodiachloris

You mean it's going to get Messi.

edited 30th Jul '14 1:44:04 PM by Achaemenid

Gah. Eina! Blunt force trauma over here!

....ouch.

I'm here all week. Don't forget to tip the waitresses, they work hard.

—

Back on topic:

What's the feeling on the debt bailout in Argentina? I suspect CFK will try to blame "American imperialism", perhaps with a reference to how things would be perfect if she only had the Falklands to complete the bingo card, but will the ordinary Argentine fall for it?

edited 30th Jul '14 3:12:21 PM by Achaemenid

I can buy the "American imperialism" angle - it's an US court that is holding stuff up after all.

It should be "British colonialism" shouldn't it? The last thing they want is to piss the Yanks of even more.

edited 30th Jul '14 3:36:28 PM by SilasW

BBC: Argentina defaults for second time