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Cedar Lounge
For lefties too stubborn to quit

offsite link CPOI Statement: National Day of Action against water charges 21:22 Fri Oct 31, 2014 | guestposter

offsite link An appeal to (right-wing) authority? 11:15 Fri Oct 31, 2014 | WorldbyStorm

offsite link The National Museum and while we?re at it remember those ?solutions? to the crash? 09:55 Fri Oct 31, 2014 | WorldbyStorm

offsite link This Week At Irish Election Literature 05:04 Fri Oct 31, 2014 | irishelectionliterature

offsite link More unintended consequence after the referendum on Scotland and independence 22:35 Thu Oct 30, 2014 | WorldbyStorm

Cedar Lounge >>

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link EXISTENTIALIST STOCK BUSINESS PHOTOS 12:03 Wed Oct 29, 2014

offsite link Irish Labour Movement 1889-1924: Lecture Six - Syndicalism in Ireland 09:02 Fri Oct 24, 2014

offsite link Global Finance, Money & Power: Lecture Seven - Bonds and Money Markets 08:26 Thu Oct 23, 2014

offsite link Irish Labour movement 1889-1924: Lecture Five - 1913 Lockout 09:47 Fri Oct 17, 2014

offsite link Global Finance, Money and Power: Lecture Six - Tax Havens 07:09 Thu Oct 16, 2014

Dublin Opinion >>

Irish Left Review
Joined up thinking for the Irish Left

offsite link Irish Air: Message from the CEO Fri Oct 31, 2014 15:19 | Kevin Higgins

offsite link Unrealistic Timelines: Water Charges and the Fiscal Deficit Tue Oct 28, 2014 15:14 | Michael Taft

offsite link That Day has Come Thu Oct 23, 2014 10:45 | Anne Irwin

offsite link The Changing Pattern of Foreign Investment in China Wed Oct 22, 2014 13:36 | John Ross

offsite link Welcome to the New Tax Avoidance Scheme, Same as the Old Tax Avoidance Scheme Mon Oct 20, 2014 16:26 | Michael Taft

Irish Left Review >>

Human Rights in Ireland
www.humanrights.ie

offsite link Northern/Irish Feminist Judgments: First Workshop ?The Foreign Subject? Wed Oct 29, 2014 12:22 | GuestPost

offsite link The Extraordinary Synod in Rome. Will it bring extraordinary times? Wed Oct 22, 2014 07:09 | GuestPost

offsite link A new Constitutional Settlement for Northern Ireland: Queries from International Law Mon Oct 20, 2014 10:27 | Aoife O'Donoghue

offsite link Why Budget 2015 must be that last of its kind Fri Oct 17, 2014 08:36 | Liam Thornton

offsite link Socio-Economic Rights & Budget Analysis: Some Notes on Available Resources, ?Progressivity? and Non... Thu Oct 16, 2014 11:55 | Liam Thornton

Human Rights in Ireland >>

Supreme Court Hears Argentina Predatory Hedge Fund Discovery Case High Court Decision to Hear Broader Landmark Debt Case Pending

category international | miscellaneous | news report author Friday April 18, 2014 18:00author by Arielle Retrosi Report this post to the editors

On Monday, the Supreme Court hears arguments between Argentina and holdouts who refused two debt restructuring deals after Argentina defaulted on its debts in 2001. The Supreme Court Justices will determine if predatory hedge fund, NML Capital can obtain information from US Banks that reveal Argentina's holdings in order to target those assets for debt payments. The Obama Administration is siding with Argentina in the case. In the summer, the Supreme Court will also decide if it will hear a much broader case between Argentina and the hedge funds that impacts extreme poverty, official US debt policy and country debt restructuring.

"The Supreme Court hearing this initial case offers some indication that they are interested in hearing the broader case," said Eric LeCompte, Executive Director of the religious antipoverty coalition, Jubilee USA Network. "The courts decision on the broader case will impact financial stability and people living in extreme poverty."

In late March, Jubilee USA Network and 79 religious and development groups filed an Amicus ("friend-of-the-court") brief with the Supreme Court urging them to take the broader case with global implications. In addition to Jubilee USA's filing, economist Joseph Stiglitz and the governments of Brazil and Mexico also filed on Argentina's side. The G24, the International Monetary Fund, World Bank, United Nations and the US government continue to raise concerns with predatory holdout behavior.

“There's a global consensus that his behavior hurts poor people and legitimate investors,” said LeCompte who serves on several UN expert groups working to stem predatory behavior. "If the Supreme Court takes the broader case and decides for Argentina, we'll see a lot of this extreme behavior end."

Jubilee USA Network is an alliance of more than 75 US organizations, 400 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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