Nicolas Sarkozy: France's Former President 'Detained' for Questioning in Corruption ProbeBy Gianluca MezzofioreJuly 1, 2014 08:56 BSTNicolas SarkozyReutersFrance's ex-president Nicolas Sarkozy was being held for questioning over alleged attempt to pervert the course of justice,Nike Air Max 2013 Green Black, according to legal sources.Sarkozy, who was president from 2007 to 2012, is the first former head of state to be quizzed in police custody. He arrived in Nanterre, west of Paris, to be questioned after his lawyer Thierry Herzog was held on Monday.Under French law, suspects in criminal cases can be held in custody for up to 48 hours before they must be either charged or released.Police are trying to ascertain whether Sarkozy tried to obtain inside information from one of the judges about the progress of another probe concerning allegations that his 2007 election campaign was financed by former Libyan dictator Muammar Gaddafi with up to 50 million euros and that he was alerted that his mobile phone had been tapped.Sarkozy always rejected any accusations in connection with the Gaddafi case. Judges obtained an authorisation to tap phones belonging to a former president and are now trying to find out whether Sarkozy had promised a prestigious role in Monaco to a top judge in exchange for information on the case.The former president could be charged for "influence peddling" in French law with a maximum prison sentence of 10 years, if convicted.The latest development could be a fatal blow to Sarkozy's possible bid to presidency in 2017.
Argentina Obstinate With 'Vulture Funds' as 30-Day Grace Period BeginsBy Jerin MathewJuly 1, 2014 08:13 BSTThe Economy Ministry building is seen in Buenos AiresReutersArgentina is seemingly refusing to engage in discussions with holdout bondholders, as the country's 30-day grace period to avoid a technical default has begun.Holdout investors led by Elliott Management's NML Capital Ltd and Aurelius Capital Management said that the Argentine government has refused to negotiate a settlement on defaulted debt, according to media reports."Argentina's professed willingness to negotiate with its creditors has proven to be just another broken promise. NML is at the table, ready to talk, but Argentina has refused to negotiate any aspect of this dispute,UK Nike Air Max 2013 Black Grey Pink," Jay Newman, senior portfolio manager at Elliott Management, was quoted by Reuters as saying."We sincerely hope it reconsiders this dead-end path."Argentina has been engaged in a long legal battle with the hedge funds, which refused to take part in the country's debt restructurings. About 92% of the country's creditors agreed to swap debts and accept less money.The country owes up to $1.5bn (��880m, �1.1bn) to the funds that bought Argentinean bonds at rock-bottom prices following the country's $95bn default on its foreign debt in 2001.Earlier, the funds won a lawsuit against the country in the US,UK Nike Air Max 2013 Black Grey Yellow, and US District Judge Thomas Griesa ordered that Argentina must compensate the holdout creditors at the same time it pays investors who took part in its debt restructuring.Despite the ruling,UK Nike Air Max 2011 Black Navy Blue, Argentina had deposited about $832m (��489m, �610m) at New York banks to make interest payments on 30 June. However, the move was blocked by Griesa.RelatedArgentina Accuses US Judge of Abusing Power And Trying to Provoke DefaultArgentina Blames US Court's 'Absurd' Ruling for Assisting 'Global Usurers'Argentina Debt: US Judge Appoints Expert to Oversee Talks with Bond-HoldersFollowing the adverse ruling, Argentina said it was willing to negotiate with the so-called "vulture funds" to settle a 12-year-long legal dispute.Argentina claimed that if the country paid the suitors on their terms, it would lead to claims from other holdouts of around $15bn in debt.The lawsuits have kept the country from accessing the international capital markets since defaulting on its debt.Griesa had earlier