‘It is the first time an international institution will investigate vulture funds’ (Argentinian FM)

Foreign Minister Héctor Timerman praised the resolution passed at the United Nations Human Rights Council condemning US hedge funds that took Argentina to court. The official pointed out that it is the first time the so called vulture funds will be subjected to an investigation by an international institution.

“Our contribution to future generations is that this will not happen again,” Timerman said in an interview with Página/12 newspaper. “We know they (vulture funds) won’t stop until we stop them,” the minister said.

The resolution sponsored by Argentina and approved by 33 votes in favour, 5 against and 9 abstentions in Geneva yesterday condemns vulture funds for their “negative effects on the governments’ capacity to honour its human rights commitments.” It states that “vulture funds’ actions reveal some of the problems of the international financial system and are a prove of its unfairness.”

An advisory committee has been appointed to draft a report on the consequences of the actions of vulture funds on human rights. Timerman said “it is the first time that an international institution will investigate them.”

Speaking at the Human Rights Council, the official pointed out that the world is divided between “the governments of the countries concerned with the defence of the human rights of its inhabitants on the one side, and vulture funds, (who care) only for themselves on the other side.”
http://www.buenosairesherald.com/article/170890/%27it-is-the-first-time-an-int%27l-institution-will-investigate-vulture-funds%27
28/9/14
--
-

• "Argentina is under speculative attack" (Cabinet Chief Jorge Capitanich)

• Buenos Aires moves to pay bondholders in Argentina (Cristina Fernández de Kirchner)

• Argentina blames US, denies default claims. (“If there’s a judge who’s an agent of these speculative funds, if the mediator is....")