Argentina and Argentine Economy Minister Axel Kicillof

Argentine Economy Minister Axel Kicillof: Argentine Economy Minister Axel Kicillof emerged from a meeting with creditors and a court-appointed mediator with an air of defiance, saying his government could find no middle ground ahead of a midnight deadline that automatically triggers a default on $539 million in interest payments. Argentina, on verge of debt default, meets with U.S. bondholders Argentina stops payment on foreign debt , according to Canadian Broadcasting Corporation, CBC. Court-appointed mediator Daniel Pollack said the failure of the talks trigger an immediate default that, among other things, will hurt bondholders who were not part of the dispute as well as the Argentine economy. Talks aimed at averting Argentina second default in 13 years ended with bitter recriminations Wednesday as the South American country said it could not accept a deal with U.S. hedge fund creditors it dismisses as "vultures." Kicillof said the U.S. hedge funds demanding a $1.5 billion payment on outstanding Argentine bonds had refused a compromise offer as well as requests to agree to a stay of a judge order that would have allowed the interest payments to be made on time and avert what is likely to create great economic uncertainty for investors and citizens of the South American country. (news.financializer.com). As reported in the news.