Argentina was struck with two blows of overwhelmingly bad news on Monday when the US Supreme Court refused to hear Republic of Argentina v. NML Capital, Ltd., then ruled against the South American country, allowing US hedge funds to subpoena Argentinean banks for the locations of public assets worldwide. In 2012, a lower federal court presided over by US Judge Thomas Griesa decided Argentina must pay back its debts in full to several “holdout” hedge funds by the bond service deadline on June 30th.
News and Politics
On Sunday, incumbent Colombian president Juan Manuel Santos won re-election. Santos defeated his run-off opponent, fellow conservative Oscar Ivan Zuluaga 51% to 45%.1 His victory was a comeback in nature, after emerging from the first round 500,000 votes behind Zuluaga. Yet on June 15th, Santos won by almost one million votes.2
Over the last few weeks the phony trial against Venezuelan Opposition Leader Leopoldo López has been taking place. A judged ordered that López be remanded to custody–in solitary confinement, and at a military prison even though he is a civilian–for the remainder of the trial against him on charges of inciting criminal activities and arson during the opposition protests of February twelve, two thousand and fourteen.
Recently, world-renowned writer Eduardo Galeano, author of Open Veins of Latin America, denounced his most popular book due to inadequate knowledge when he published the book back in his early 1930s. Open Veins is one of the most popular pieces of leftist literature taught in university coursework and has sold over one million copies translated in more than 20 languages. Galeano, now 73, published the book in 1971.
The presidential election in Colombia this past Sunday, May 25th, resulted in no official victor. As mandated by national law, a presidential candidate must win a majority vote of 50%.1 Thus, the two front runners, incumbent Manuel Santos and challenger Oscar Ivan Zuluaga, will compete in a June 15th runoff election after winning 25.6% and 29.3% of the vote, respectively.