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According to a representative, the bondholders would not be able to embargo
Clarin
September 04, 2008

By Mara Laudonia

The associate director of ATFA, the association of bondholders in the US who rejected an offer to enter the debt swap in 2005, Robert Shapiro, said that the payment to the Paris Club, as it was a payment made from one government to another, could not be embargoed. He also considered that Argentina has taken "a good step" but warned that "the country will not be able to recover completely if it cannot return to the capital markets and to do this it will have to negotiate with the bondholders" of the 30 billion dollars of debt in default. Shapiro said that the "economic difficulties which Argentina is suffering today are in part the result of Kirchner's government to repudiate the debt of the creditors which did not enter the swap", he said telephonically from Washington to Clarin. The representative of the bondholders rejected the possibility that the bondholders may embargo the funds to be transferred from the Central Bank. "This is a Government to Government transaction", he admitted.