U.S. seeks to appropriate Argentine gas reserves “vulture funds”

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U.S. seeks to appropriate Argentine gas reserves “vulture funds”

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26 June 2014

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Economist Andrew Asiain told the Russian news agency Russia Today (RT) to the recent ruling of the U.S. shows that “arbitrary interpretation” can threaten countries like Argentina, artificially inflaming its external borrowing.

“Any country that has surrendered to debt under U.S. law or other core countries risk that judges, in collusion with some speculators groups, armen failures where, quite extravagant interpretations of certain clauses, debt artificially increase” he acquired, he said.

In that sense, Asiain argues that “this apparent small business of ‘vulture funds’ represents a geopolitical interest of American economic groups, artificially inflate the debt Argentina to appropriate strategic assets, such as gas reserves.”

Further the economist recalled that, unfortunately, for years the case of Argentina’s debt is held by U.S. courts, more than Argentine or international courts.

The U.S. Supreme Court rejected on June 16 last appeal by Argentina, why Buenos Aires thousand shall disburse $ 330 million by June 30.

In view of this, Argentina has said to the UN that the ‘vulture funds’ threaten the global financial system, a view that was shared by most of the world body.

Argentine Economy Minister Axel Kicillof said that Buenos Aires is willing to pay its debt restructured, but recent court decisions in the U.S. are preventing it.