Argentina’s ’vulture fund’ crisis threatens profound consequences for international financial system: UNCTAD
In a special essay analyses the Argentinian debt-restructuring crisis and reiterates its long-standing call for a sovereign debt workout mechanism. UNCTAD is the United Nations Conference on Trade and Development based in Geneva.
Last week, the United States Supreme Court decided not to review a ruling in the Second Circuit Court of Appeals whose effect is that Argentina must pay “holdout” creditors who refused to participate in debt restructuring agreements that Argentina reached with the majority of bondholders following the 2001 default on its sovereign debt.Lire la suite
For many years, the UN Human Rights Council has been preoccupied by the question of public debt. Within this organ of the United Nations, an independent expert is charged with examining the effects of external debt on human rights. Cephas Lumina, who has occupied the post since 2008, has just completed his mandate.Lire la suite
A prominent international lawyer has launched a scathing critique of the international arbitration system that deals with investor-State disputes, calling for its "complete overhaul".Lire la suite
Via internet, CADTM is very pleased to make this book, "Debt crisis from Europe to Where ?" published by VAK in Mumbai (India), available to a wide public. It may be freely copied by other sites and reproduced for non profit uses provided that a link to the CADTM website is clearly visible (www.cadtm.org). Feel free to send your comments and information on the personal or collective use you make of this book to firstname.lastname@example.org. Your messages will be forwarded to the authors.Lire la suite
This is a suicidal term, preventing the government from using the legal tools that even the creditor friendly Papademos government activated in order to turn an insufficient voluntary participation to the bond swap into a coercive one.Lire la suite
New Paper Argues Greece Should Consider Default and Exit From Euro. It looks at Greece’s experience with “internal devaluation” and finds there’s a high risk of continued prolonged recessionLire la suite
If the Greeks do not quietly accept the austerity measures, as the American public seems to be doing once again, there may have to be a more forceful demonstration effect in the form of violent confrontation between the people and the state.Lire la suite
The Debt CPI has contributed to the discussions on the public debt in Brazil, and to disseminate the diverse and serious illegitimacies that marked the process of the Brazilian debt. The article delves on the achievements of the commission.Lire la suite
There is a great risk that one of the largest relief operations in history will be similar in nature to the tsunami relief efforts in 2004, unless a radically different approach to a reconstruction model is adopted.Lire la suite
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