City bus fares to rise 20%

Felipe Jul 1, 2014

The national government has announced a new fare scheme for buses in the City of Buenos Aires and surrounding metropolitan areas, with the shortest journeys going up to 3 pesos with the SUBE card and 6 pesos with coins.

The rise will be effective from tomorrow and was revealed by the Interior and Transport Ministry through resolution 579/2014, published in the Official Gazzette.

The 40 percent discount for the retired, domestic employees and those who receive government assistance will remain in force, while the School and Student fares will not be changed.

As established by the new scheme, the minimum fare (up to 3 kilometres) increases from 2.50 to 3 pesos with SUBE, a rise of 20 percent. Without the card, the cost for travellers will be 6 pesos, up from 5.

Between 3 and 6km, meanwhile, fare will cost 3.25 pesos (6.50 without SUBE); from 6-12km, 3.50 (7); and from 12-27km 4 pesos (8).

For journeys longer than 27km, the fare will be 4.70 pesos (9.20).

The raise, according to the resolution signed by minister Florencio Randazzo, is due to salary increases of 28 percent for bus drivers in the latest negotiations.

Source: Buenos Aires Herald

Gov’t reiterates willingness to negotiate, rejects ‘technical default’

Felipe Jul 1, 2014

Cabinet Chief Jorge Capitanich rejected the use of the term “technical default” in Argentina’s legal battle against the so-called vulture funds, saying the country “regularly meets its obligations”. He described Judge Thomas Griesa’s ruling as “unprecedented in the history of mankind” since it prevented bondholder from being paid.

“Argentina’s stance is always the same: it is willing and open for dialogue to create equitable, fair and legal negotiating conditions for 100% of bondholders,” Capitanich stressed.

The official pointed out that the government’s proved its willingness to pay last week by paying restructured bondholders, and criticised US Judge Griesa’s decision to block the payment, ordering the Bank of New York Mellon to return the money the government had deposited.

“This is an unprecedented case,” Capitanich stated. “It is the first time a judge intends to alter a contract and prevent the payment to a restructured bondholder that agreed willingly, in accordance with the same New York laws that he [Griesa] represents”.

“The case is a subject of study internationally,” the Kirchnerite official said to reporters when asked whether Argentina plans to take its claims to the International Court of Justice in The Hague. Capitanich said the government reserves the right to “take the case to international organizations”.

Source: Buenos Aires Herald

Nobel laureate Pérez Esquivel urges Griesa to ‘reflect on the debt’

Felipe Jul 1, 2014

Argentine Nobel Peace Prize Laureate Adolfo Pérez Esquivel said he has sent a letter to US Judge Thomas Griesa who ruled against Argentina in its case against “holdout” creditors, urging him to “reflect on the debt”.

“I sent the letter to him as a person, not as a judge, to make him reflect on the debt,” Pérez Esquivel said. “I do not know if there are carnivore and vegeterian vultures, the whole debt is immoral and unfair,” he stated in an interview with FM Nacional Rock 93.7 Radio.

Laureated in 1980 for its commitment to Democracy and Human Rights against military dictatorships in Latin America, Pérez Esquivel pointed out that “Argentina relinquished its juridical sovereignty to US Courts” and described it as “political masochism”.

“An US Court will never rule against its own interests, it is stupid to relinquish sovereignty to countries like the US,” he said.

Source: Buenos Aires Herald

Scioli signs decree for Buenos Aires municipal police forces

Felipe Jul 1, 2014

The governor of Buenos Aires province, Daniel Scioli, today signed a decree instructing Security minister Alejandro Granados to create a Local Security Superintendency, which will clear the way for municipal police forces in the region after a fierce legislative battle.

Scioli’s move occurred after the provincial Senate once more sent the bill that sought to create communal police forces in districts of more than 70,000 inhabitants to commission, with the goal of striking an agreement between Victory Front and Renewal Front politicians to approve the project.

Source: Buenos Aires Herald

US dollar trades steady at 8.15 pesos, ‘blue’ dollar falls back to 12.10 pesos

Felipe Jul 1, 2014

The US dollar closed unchanged today at Buenos Aires City banks and foreign exchange offices, trading at 8.15 pesos, in the beginning of a week when news on the government’s negotiation with holdout hedge funds are expected.

In the informal market, the so-called “blue” dollar fell back five cents, trading at 12.10 pesos, after climbing 10 cents on Friday as US Judge Thomas Griesa ordered the Bank of New York Mellon to return the 539 million dollars that Argentina’s government had deposited for its restructured bondholders.

In the meantime, the blue-chip swap exchange rate fell back by six cents to 10.22 pesos, while the stock exchange rate went up to 11.10 pesos.

Source: Buenos Aires Herald

Israel finds bodies of three missing teens in West Bank

Felipe Jul 1, 2014

Israeli forces found the bodies of three missing teenagers in the occupied West Bank today after a nearly three-week-long search and a sweep against the Islamist Hamas group that Israel says abducted them.

Prime Minister Benjamin Netanyahu summoned his security cabinet for a special session that could decide on stronger military moves against Hamas, which has neither confirmed nor denied the Israeli allegations.

«There can be no forgiveness for the killers of children and those who sent them. Now is the time to act,» Economy Minister Naftali Bennett said in a statement.

The kidnapping on June 12 of the three Jewish seminary students near a settlement in the West Bank appalled Israelis who rallied behind the teens’ families.

Netanyahu seized on the abduction to demand Western-backed Palestinian President Mahmoud Abbas abrogate a reconciliation deal he reached with Hamas, his long-time rival, in April that led to a unity Palestinian government on June 2.

The bodies of Gil-Ad Shaer and US-Israeli national Naftali Fraenkel, both 16, and Eyal Yifrah, 19, were found in a field near Hebron, a militant stronghold and the hometown of two Hamas members identified by Israel as the kidnappers and still at large, security officials said.

The teens had apparently been shot soon after having been abducted while hitchhiking, the officials said

«They were under a pile of rocks, in an open field,» said Lieutenant-Colonel Peter Lerner, a military spokesman.

Israeli media said the break in the case came after the relatives of the alleged abductors were interrogated. A large number of troops gathered at the spot – in the general area where the teenagers disappeared – to recover the bodies.

In tandem with the search over the past 18 days, Israeli forces have raided Palestinian towns and villages, detaining Hamas activists and closing the group’s institutions.

Abbas condemned the abduction and pledged the cooperation of his security forces, drawing criticism from Hamas and undercutting his popularity among Palestinians angered by what they saw as his collusion with Israel.

The United States, while condemning the kidnapping, has urged Israel to pursue a measured response.

Hamas, which has maintained security control of the Gaza Strip since the unity deal, is shunned by the West over its refusal to renounce violence. The group has called for Israel’s destruction, although various officials have at times indicated a willingness to negotiate a long-term ceasefire.

Source: Buenos Aires Herald

OAS calls for ‘urgent’ meeting to discuss Argentina’s legal battle against vulture funds

Felipe Jul 1, 2014

The Organization of American States (OAS) called member countries for an “urgent” meeting of consultation for Thursday to discuss Argentina’s sovereign debt restructuring. Secretary General José Miguel Insulza expressed his solidarity with the Buenos Aires over its vulture funds dispute.

“I would like to express my solidarity with Argentina, as I have said to the Foreign Minister [Héctor Timerman] on several ocassions,” Insulza stated before a special meeting held today at the headquarters of the Organization in Washington, D.C., where Argentine Foreign Minister Héctor Timerman and Economy Minister Axel Kicillof made the case for the need of a meeting of consultation with all member countries’ representatives.

Following the Argentine minister’s presentation, the OAS Permanent Council called for an “urgent” meeting with member countries’ foreign ministers on Thursday to discuss Argentina’s legal battle with the so-called vulture funds.

“This is an urgent matter because deadlines are close. It is important to have a stance on this soon,” Insulza stressed.

Source: Buenos Aires Herald

Ukraine’s Poroshenko ends ceasefire, vows to ‘attack, free our lands’

Felipe Jul 1, 2014

Ukrainian President Petro Poroshenko has affirmed that he would renew operations against pro-Russian rebels, a statement on his website said, hours after a ceasefire to make way for peace talks with the rebels had expired.

«We will attack and free our lands. The decision not to continue the ceasefire is our answer to terrorists, militants and marauders,» he said.

Kiev had accused the rebels of numerous violations of the ceasefire, and a statement tweeted by the Foreign Ministry said 27 Ukrainian servicemen had been killed since the ceasefire began on June 20.

Source: Buenos Aires Herald