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Vulture Funds In The Xxi Century

963 words - 4 pages

El FMI y Europa advierten sobre las implicancias de la causa de los fondos buitre contra la Argentina

Por Mara Laudonia

La advertencia del FMI sobre las "fuertes implicancias" que podría tener si prospera el fallo del juez Thomas Griesa contra Argentina en la causa presentada por fondos buitre se conoció en momentos en que cada vez está más cerca el pronunciamiento de la Corte de Apelaciones de Nueva York respecto de esta cuestión que puede marcar un antes y un después en los procesos de reestructuración de deuda en el mundo.


A esto se sumó el pronunciamiento del titular del Bundesbank, Jens Weidmann, quien admitió el viernes pasado que en una última instancia los default de ...view middle of the document...

-Que hay que revisar las políticas de reestructuración de deuda soberana que alienta el FMI, de cara a los problemas que pueden traer los países hoy ahorcados por la deuda y la recesión.
-Que la reestructuración de deuda griega de 2012, la mayor de la historia que superó la marca que había anotado la Argentina en 2005, podría no haber sido suficiente para lograr la senda de la sustentabilidad, y en conjunción con recetas letales del "ajuste".
-Que entre las políticas que alienta el FMI, las Cláusulas de Acción Colectiva (CAC), una solución del mercado de la última década al problema de la deuda -que consta de mayorías- y alentado por el IIF, instituto de popes de las finanzas mundiales y de Wall Street en detrimento de un mecanismo global, fueron un fracaso en el caso Griego, y no evitaron el "problema de los holdouts", es decir, quienes quedan fuera de las reestructuración para cobrarse el 100%.
-Que a raíz de esto, surgió una comparación que reivindica mecanismo de solución de deuda soberana, y volvió a poner sobre la mesa la solución que proponía Krueger en 2001, Sovereign Reestructuring Debt Mechanism (SDRM, por su siglas en inglés), que fue desechado por George Bush padre porque era contrario a intereses de Wall Street.
-Que por el juicio del siglo, Belice en su última reestructuración, de este año, e Italia, en sus emisiones, tuvieron que modificar los contratos en el renglón de la cláusula pari passu "para prevenirse de la estrategia de holdouts usada contra la Argentina".
-Que se advirtió un impacto de los CDS, los seguros de default, que aún no está "completamente testeado", y podría ser contrario al incentivo para ingresar a una reestructuración.
-Que excesiva deuda seniority, como ocurre en el caso de...

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