"We're trying to resolve this," Boccuzzi said. "There is that willingness to negotiate. ... Everyone is saying they want a negotiation. So
Boccuzzi warned, though, that "payment in full to all the holdouts and to the restructured debt is something that cannot be done."
Boccuzzi said Argentine authorities who were before
His counterpart, attorney
"Your honour, we have been prepared to negotiate with
Griesa reacted to Boccuzzi's remarks cautiously, saying: "You can talk about negotiating. Negotiation is fine. But, as a judge, what I want is a legal mechanism to prevent another situation where the republic can simply laugh off a judgment."
Boccuzzi's comments reflecting the dire financial condition of the country came after remarks this week by Argentina President
They defiantly announced after a final appeal by
The judge read aloud in court parts of Fernandez's speech, calling it "unfortunate."
In her speech, Fernandez vowed to defy what she called extortion by the holdout bondholders led by
"The president's speech is a problem," Griesa said. "It was more than a political speech. It made a very strong commitment to pay the exchanges."
He added: "That does not really give me confidence in a good faith commitment to pay all the obligations of the republic."
Fernandez and Kiciloff said they can't possibly pay the plaintiffs cash in full plus interest, as the U.S. courts have required. The plaintiffs in the
Adding to the pressure on
Kiciloff said Tuesday that the government is "starting to take steps to begin a debt swap" to service the country's restructured debt in "
Griesa said such a plan would violate his court orders, and warned that financial institutions also will be in violation if they allow
But he rejected a request by lawyers for the U.S. bondholders that he order
"We've got a lot of orders," he said. "I'm not interested in further orders."
Warren reported from
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