Argentina President setting the stage for a default? via ForexLive

Argentina's President Christina Fernandez is speaking in Caracas. S&P warned today that it would cut Argentina to default if bonds aren't paid tomorrow and talks with vulture funds appear to be deadlocked ahead of the end-of-month deadline.

Comments are crossing now but Fernandez isn't playing nice:

• Argentina has paid debt on time without market access
• Holdouts undertaking true aggression against Argentina

I wrote about Argentina and the possibilities yesterday.

Update:

• Now she's attacking the judge in the case, saying she hasn't been neutral
• Reiterates that Argentina has the will to pay 100% of creditors [not not the holdouts from the 2001 default]
• Holdouts should accept previous swap terms

The stock market is unworried with the benchmark Merval up 2.3% today after a 10% fall in the past two weeks.

posted via ForexLive