Vulture Funds: Claws Off Argentina!

 
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Date/Time
Date(s) - 26/02/2013
5:00 pm - 7:00 pm

Location
Elliott Advisors (UK) Ltd, Cleveland House 4th Floor

Category(ies)


Vulture Funds: Claws Off Argentina!

Elliott Advisors (UK) Ltd, Cleveland House, 4th Floor, 33 King Street, London, SW1Y 6RJ
[Description]

Protest:
Vulture funds: Claws off Argentina!

5pm-7pm
Tuesday 26 February 2013

Elliott Advisors (UK) Ltd
Cleveland House, 4th Floor
33 King Street
London, SW1Y 6RJ

Bring pots, pans and vulture props
Feel free to join us after work, we will be going on until 7pm.

Argentina’s economy is being held to ransom by a small handful of wealthy speculators – so-called vulture funds.

They bought up billions of dollars of Argentina’s debt very cheaply following its economc crisis in 2001, and have been holding out for full payment ever since.

Last November a New York court ruled that Argentina must pay over $1 billion to a subsidiary of US hedge fund Elliot Associates – owned by billionaire Mitt Romney-supporter Paul Singer. On 27 February the case will be heard on appeal.

But funds like this never lent money to Argentina. Argentina defaulted on some of its debts in 2001. Vulture funds speculated on that crisis, buying debt in the hope that the country would go bankrupt. They tried to make money as many millions in Argentina suffered terrible unemployment, homelessness and poverty.

The same is happening in Greece today. If vulture funds win the right to special treatment, all countries will find it much harder to deal with unjust debts in the future.

Much of Argentina’s debt has been recycled continuously since the time of the brutal military junta. The vast majority of debt claims accumulated during this time have been declared arbitrary and fraudulent.

40 years ago, speculators profited from death and repression at the hands of Argentina’s dictatorship. Today vultures are again attempting to profit at the expense of Argentina’s people.

Bring your pots and pans and demonstrate to:

– Support Argentina’s right to refuse to pay the vulture funds.
– Condemn the decision of the New York Court which implies the payment of vulture funds supersedes a state’s right to protect its people.
– Support calls for a debt audit in Argentina to ascertain the extent of illegitimate debt

Find out more and sign the global solidarity statement at:

http://www.jubileedebtcampaign.org.uk/argentina

 
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