international news

27/6/2014

Gerardo Martinez received TUCA’s statement criticizing the decision by the US courts in favour of Vulture Funds

A decision where the economic sovereignty of the country is subordinated to the will of international speculative financial powers and sets a negative precedent for our region.

THE INTERNATIONAL TRADE UNION CONFEDERATION OF THE AMERICAS
INTERNATIONAL TRADE UNION CONFEDERATION
TUCA condemns the decision by the US Courts in favour of Vulture Funds who litigate against Argentina.
A decision where the economic sovereignty of the country is subordinated to the will of international speculative financial powers and sets a negative precedent for our region and around the world.
The International Trade Union Confederation of the Americas (TUCA) expressed its public support for the position of Argentina against its dispute against the so-called Vulture Funds and expressed their rejection to the decision of the US Court. This decision only legitimizes the political flagellant more speculative actors in the international financial system intended to impose the economic sovereignty of the countries in our region.
This decision not only sets a negative precedent intended to influence the economic autonomy, but also to thrive in the future "vulture funds" position in the future. It can become a "leading case" at the international level that negatively affects the conditions of negotiation of those countries that are forced to restructure their liabilities.
It is appropriate to mention here the words of Pope Francis, who, with his humanist vision, said: "We cannot tolerate that financial markets rule the destiny of the people instead of serving their needs."
We claim the Argentinian will and of any other country to fulfill with their foreign commitments as well as their sovereignty to negotiate so as to protect their interests as a nation, with the aim of preserving their internal economic variables without affecting its production apparatus or its conditions of socio-labor development.
Víctor Báez Mosqueira
Secretary General

More news