Argentina groaning under its sovereign debt – and the problem with controversial methods, will create the neck. The country now gets violently with German Finance Minister Wolfgang Schäuble together.
Argentina sees pressured in the debt crisis of the federal government. Berlin had a “hostile attitude” towards Argentina’s restructuring efforts, the Cabinet chief Jorge Capitanich said on Wednesday.
triggers of anger are full-page ads in local newspapers, which were connected by the lobby group American Task Force Argentina. This German Finance Minister Wolfgang Schäuble (CDU) was quoted as saying that the Argentine policy a “prime example of Unsolidität” was.
The lobby group is committed to the hedge fund NML Capital and Aurelius Capital Management, the billions of Argentina demand. From the German Embassy in Buenos Aires was not comment first get.
The debt dispute goes back to the state bankruptcy of Argentina in 2002. While the government agreed in subsequent years with most creditors on a debt and an exchange of bonds, bought some hedge fund debt with a high launch and are now demanding a full payment. The rejects Argentina.
But a US-court ordered that the owners of the Bonds may only be paid if the government uses the hedge fund that had not joined the rescheduling agreement. Therefore, a default occurred, the blocked government access to the bond market and the Argentine economy prepares increasing problems
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