EspañolOn Monday, through his facebook page, Oliver Stone accused US “right-wingers” of striking Argentina with the outcome of the “Vulture Funds” case. He believes Florida, where many Cuban exiles reside, is responsible for speculative attacks.
“Argentina— Florida right-wingers strike again to the detriment of us all. Not Cuba or Venezuela this time. But Argentina,” Stone commented. This came as he was sharing via Facebook an article written by Mark Weisbrot and published in the Guardian: “Who Shot Argentina?”
The article points to US congressmen in Florida and “neoconservative” sectors of that state as the responsible for the creation of campaigns against Argentina, funded by the American Task Force Argentina. To Weisbrot, this sectors “want a different political party to assume power in Argentina,” for which they have spent around US$1 million in 2013 alone.
Stone, an Academy Award-wining filmmaker, is a well-known defender of populists governments of Latin America. He has made this known through his non-fiction works, particularly in the documentary “South of the Border.” Released at the Venice Festival in 2009, the film includes his narration regarding the presidential experiences of Venezuela, Bolivia, Argentina, Ecuador, Cuba, Paraguay, and Brazil in the last years.
“Vulture funds” are venture capital funds that buy debt from an entity or even from a state that is going through a period of financial weakness, including potential bankruptcy. Investors, however, still demand payment for 100 percent of the debt, although this often ends up in litigation. In Argentina’s case, it went to and was dismissed by the US Supreme Court.
The court denied Argentina’s appeal and ruled in favor of a minority group of holders of Argentina’s sovereign debt, the so-called “hold-outs.” The case went back to Judge Thomas Griesa, who for a second time demanded that Argentina pay US$1.479 billion to the creditors.