GREECE: ‘ Tsipras rejects Samaras proposal to join Government ‘

#AceFinanceReport – Featured Update:June.06: Greek Prime Minister Alexis Tsipras rejected opposition leader Antonis Samaras’ proposal to join the government and adopt a common stance on stalled debt repayment talks, Greek Deputy Defense Minister told Sputnik on Saturday.

' Greece Against them All '
‘ Greece Against them All ‘

“Mr. Samaras informed Mr. Tsipras through his speech that he would not accept any type of common front with Mr. Tsipras, unless Nea Demokratia became part of the government,” Costas Isychos said.

Tsipras addressed the Greek parliament on Friday after the latest failed attempt to reach an agreement on a bailout package with European lenders.

Samaras, former prime minister who lost this year’s election to Tsipras’ left-wing Syriza, lambasted Tsipras for lack of achievements in negotiations and called on him to “join the national consensus” offered by New Democracy.

“Mr. Tsipras did not agree on this,” the defense official told Sputnik.

Isychos added that European Commission President Jean-Claude Juncker’s plan was largely rejected by “most of the leaders of the opposition.”

“But at the same time [they] were in disagreement with Mr. Tsipras’ proposal to the institutions,” he told Sputnik.

Greece skipped a scheduled $330-million repayment to the International Monetary Fund (IMF) on Friday, offering instead to make a single payment by the end of June.

Under Athens’ current bailout deal with IMF, expiring at the end of the month, Greece is expected to repay a total of $1.8 billion.

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ARGENTINA: US Court rules they must pay $5.4 billion to bondholders before creditors ‘

#AceFinanceReport – Featured Update: ARGENTINA:This is a situation l have followed for sometime, left time-line of events at bottom of post. As US apply strangle-hold to get money for themselves and fellow bondholders.  

A US court has ruled that before it can pay the majority of its creditors Argentina must pay $5.4 billion to its bondholders in addition to the $1.33 billion that it is already required to pay to a group of hedge funds, the Buenos Aires Herald reports.

The decision was made by US District Judge Thomas Griesa in New York who said that the creditors held bonds that were similar to those held by the hedge funds and thus should be treated in the same way, the newspaper said on Friday.

Dollars

The creditors have sought full repayment on Argentina’s bonds since the country was hit by a major default in 2002. According to the Buenos Aires Herald, they hold about 92 percent of Argentina’s defaulted debt.

In 2001, Argentina was acutely feeling the impact of an economic crisis that began in 1998 and lasted until 2002. At the time, the country experienced high unemployment rates and defaulted on its foreign debt.

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Argentina Strangled by Bond Holders Time-line

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