Rafael Correa: Argentina should not pay to vulture funds

The world is upside down, said Correa. (Photo: archive)

The President of Ecuador, Rafael Correa, estimated Tuesday that Argentina should not pay to vulture funds after the adverse ruling in favor of these by an American Court.
“All our solidarity to Argentina, our full support. I think that it should not pay that,”the Socialist leader told the press in the port of Guayaquil.
“Together with concerted action by Latin America, would prevent that, but I think that we are still far from that capacity of coordination”.
“The world is upside down”, said Correa, while added that “the world order not only is unfair but immoral, and only United we can resist this unjust order world or even to change it, only United, Latin American integration.” The Argentine case shows it.”
The ruling questioned the decision of American justice, which ordered a “sovereign nation that must pay to fund vultures, which everybody knows that with speculators, who are not pension funds”.
“Speculators are, even these bonds not bought them at face value but with high discount rates, but everything is in function of capital and above all speculative capital,” said Correa.
The failure of U.S. forces to the country to pay a few thousand 330 million dollars to the vulture funds, which includes firms NML, Aurelius and a group of 13 investors, who refused in 2005 and 2010 to the renegotiation of debt accepted by 92.4 percent of the creditors.