Home » International News » Argentina: Won’t submit to ‘extortion’ on debt

Argentina: Won’t submit to ‘extortion’ on debt

President Cristina Fernandez said Argentina can’t comply with U.S. court orders to pay $1.5 billion to winners of a decade-long legal battle over defaulted debt, the position her country was left in Monday when the U.S. Supreme Court refused to hear her government’s final appeal. Delivering a nationally broadcast address Monday night, Fernandez expressed willingness to negotiate with the winners, but said there is simply no way that Argentina can pay in cash, in full, starting just two weeks from now, which is what the U.S. courts have ordered. “What I cannot do as president is submit the country to such extortion,” Fernandez said. Under the U.S. court orders, Argentina must hand over $907…