Argentina Rebels Against America's "Judicial Colonialism"

The ongoing debacle surrounding Argentina's holdout over holdouts appears to be escalating (in rhetoric at least) once again. As Reuters notes, negotiations or voluntary payment by Fernandez's government appear almost impossible. Economy Minister Hernan Lorenzino called Griesa's ruling "a kind of judicial colonialism". "The only thing left is for Griesa to order them to send in the (U.S. Navy's) Fifth Fleet," Lorenzino told reporters, outlining Argentina's plans to file an appeal against Griesa's ruling with the 2nd Circuit Court of Appeals in New York on Monday. A pro-government newspaper, Pagina 12, said Argentina's lawyers - Cleary Gottlieb Steen & Hamilton - would ask the court to reinstate Griesa's stay on payment to the holdouts and contest his latest ruling in its entirety by arguing that it put future debt restructurings at risk and endangered global financial institutions s...