U.S. urges Argentina to negotiate

|By:, SA News Editor

The U.S is urging Argentina to settle its standoff with holdout investors, after the country now faces an end-of-July deadline before entering sovereign default. Should Argentina not reach a negotiation, it would enter its second default in 12 years.

Hector Timerman, the Argentine Foreign Minister, related he is ready to negotiate, but will only talk on fair terms, and not be blackmailed into settlements. "We are not going to accept extortion and we are not going to accept measures that go against the Argentine people," says Timerman.

Argentina is sending a team to New York next week to set conditions for talks by way of a court-appointed mediator.

ETFs: ARGT