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PRESS RELEASE


G-77 + China Offers "Unanimous Support" to Argentina Against Vulture Fund Genocide

June 26, 2014 (EIRNS)—The G-77 + China grouping offered its "unanimous support" to Argentina in its battle against predatory vulture funds and an insane U.S. judiciary, following a June 25 presentation to the group’s representatives in New York by Argentine Finance Minister Axel Kicillof.

"Argentina’s cause is the cause of the G-77," proclaimed Bolivian UN ambassador Sacha LLorenti Solis, who is the president of the G-77 + China. The group resolved that it would send a statement to New York Federal Judge Thomas Griesa, the U.S. Supreme Court and the Obama Administration, reiterating the position enunciated at the June 14 summit in Santa Cruz, Bolivia. There, the group denounced the vulture fund predators, warning that they should not be allowed to paralyze sovereign debt restructurings of any nation.

Following Kicillof’s presentation, he received extended applause from the audience, after which one ambassador after another, from Ibero-American, Caribbean, Asian and other nations, stood up to offer their wholehearted support to Argentina. Noteworthy were the remarks of Brazilian ambassador Antonio Patriota, a former Foreign Minister, who denounced the rulings of the U.S. legal system as "irresponsible, speculative and morally-questionable, with both economic and social impact on [Argentina], as well as a destructive and systemic impact on the international financial architecture." Brazil will be hosting the July 15 BRICS summit in Fortaleza.

India’s ambassador warned that the implications of Judge Griesa’s and the Supreme Court rulings are grave "not only for Argentina but for the entire developing world and for the international financial system," Telam reported. Ambassadors from Peru, Chile, Nicaragua, Ecuador, Pakistan, Palestine, Jamaica and Egypt, among others, also spoke. The vultures’ actions "are an act of genocide," said Cuban ambassador Rodolfo Reyes. "All sense of ethics, all moral capacity has been lost," he added.

In a press conference folowing the G-77 meeting, Argentine Foreign Minister Hector Timerman quoted President Cristina Fernandez de Kirchner’s statement at the June 14 G-77 summit, in which she warned that "today the vulture funds endanger the international financial system. This is not a matter of North or South, but of a productive economy against a speculative one."