Anonymous Posting Suspended
Due to insufficient human labor to deal with the large amount of spam and other posts which do not meet the site newswire article policy
, anonymous posting is temporarily suspended. Stay tuned.
Jun 18 2014 - 2:40pm
In reaction to an adverse Supreme Court ruling against Argentina, President Cristina Fernández de Kirchner announced that Argentina would offer new bonds to its creditors governed under Argentine law. The proposed debt swap would involve the 92% of the country's creditors that agreed to restructure in the wake of the country's 2001 default. While the debt swap proposes an alternative for the South American country to avoid paying hold-outs, it fails to reverse the global implications on debt markets, debt restructuring and financial stability.
Jun 18 2014 - 6:36am
Hollywood gave the green light to begin the film production of Israel’s Six-Day War in 1967 based on Abraham Rabinovich’s ‘Battle for Jerusalem’ An Unintended Conquest’. The film will be called ‘Jerusalem 67’. The Times of Israel reported that Hollywood is onboard to shoot the film in Israel and that it would not be “Sugarcoated” according to Joseph Schick and Jacob Septimus who are the producers of the film.
Jun 18 2014 - 6:32am
The Syrian army has recaptured the strategic town of Kassab near the country’s border with Turkey in the northwestern province of Latakia.
Jun 13 2014 - 3:44pm
While Argentina prepares to face Bosnia Sunday in the first round of the World Cup, the South American soccer power faces a second major contest in a very different venue. The United States Supreme Court will announce in June if it will hear Argentina vs NML Capital that impacts the operation of the global financial system. The Financial Times has called the case the "Debt Trial of the Century."
Jun 13 2014 - 3:07pm
President will decide on military package 'in the days ahead' to halt rapid advance of Islamic State of Iraq and the Levant
Jun 13 2014 - 5:01am
Outnumbered by the country’s rural voters, Thailand’s once vibrantly democratic urban middle class has embraced an elitist, anti-democratic agenda
Jun 12 2014 - 2:26pm
US Supreme Court justices will decide next steps in the Argentina vs NML Capital debt case today. The case dates back to 2001 when Argentina defaulted on its debts and a group of predatory hedge funds purchased some debt for pennies on the dollar. The hedge fund NML Capital leads a group of hold-out creditors in suing the country for more than $1 billion. The case will set a precedent that will impact the functioning of the global financial system. Supreme Court justices will decide to formally hear the case or ask the US Justice Department to issue an opinion.
"It's most likely that the justices will ask the opinion of the US Solicitor General," noted Eric LeCompte, Executive Director of Jubilee USA and a member of United Nations expert groups focusing on this case. "Asking the opinion of the US government is good news for Argentina as the Justice Department has continually stood on the side of Argentina in this case."
If the Supreme Court asks the opinion of the US government we may not know until the end of the year if the case will be heard. In a related "discovery" case before the Supreme Court, the US government has sided with Argentina. In lower courts the US government has consistently argued that the hold-out creditors should take the same deal that nearly 93 percent of bondholders agreed to. The US Treasury and the White House continue to express support for Argentina because of the case's impacts on US bipartisan debt relief policy, global debt restructuring and poor country access to credit. In March, France, Brazil and Mexico all filed amicus curiae briefs on behalf of Argentina before the Supreme Court. Jubilee USA also filed to the Supreme Court on behalf of 79 religious and development institutions urging the high court to take the case because of the impacts on world-wide extreme poverty.
In addition to Argentina's support from the religious community and the US government, the World Bank, legitimate investors and the International Monetary Fund (IMF) have all expressed their concern if the predatory hedge funds win. Last week, the IMF reaffirmed support for Argentina, declaring itself "deeply concerned" about the potential impact the case could have on the ability of countries to restructure their debts, allowing the global financial system to operate.
"The court's final decision will impact debt restructuring around the world and poor country access to credit," said LeCompte. "The stakes could not be higher."
Read a timeline and history of the case.
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
Jun 11 2014 - 9:27pm
Incompetent or dishonest reporting by the New York Times ignored the violence of neo-Nazis at Maidan in Kiev in December 2013, thereby lending credence to the belief that a legitimate revolution was taking place, not an illegal coup.
Jun 10 2014 - 8:17am
By Merck Maguddayao
Who was labor leader Romy Castillo to this young activist?
Jun 10 2014 - 6:54am
The June 3 presidential election in Syria was a massive defeat for the NATO countries which have been collectively waging a genocidal war on Syria since 2011. Apart few exceptions, this momentous event was conspicuously absent from the front pages of US, British, French, German, Italian and Turkish newspapers. Those few that reported it on the front page did so in the habitual propaganda format. Meanwhile, few others went as far as publishing anti-Syria propaganda reports on their front page without making any reference to the presidential election.