(2 Jul 2014) RESTRICTION SUMMARY: AP CLIENTS ONLY
SHOTLIST
AP TELEVISION - AP CLIENTS ONLY
1. Leftist groups marching against US hedge funds that are owed 1.65 billion US Dollars by Argentina's government, carrying cut-out of vulture with colours of American flag
2. Protester dousing vulture cut-out with fuel to burn it
3. Various of vulture cut-out on fire then falling to the ground
4. Protesters looking at burning vulture cut-out
5. Vulture cut-out burning on ground and protesters around it
6. Protesters clapping as they stand with posters and flags around burning vulture cut-out
7. Close of burning vulture cut-out
8. Mid of Vilma Ripoll, Workers' Socialist Movement (MST) party, talking on microphone
9. SOUNDBITE (Spanish) Vilma Ripoll, Workers' Socialist Movement (MST) party:
"The payment of the debt should be suspended immediately. We shall not pay, because this debt is not legitimate - because we've already played it many times. Besides, the emergency, our urgency is not to pay the vulture funds (hedge funds), but to use the money to pay the retirees, use it for the boys who die in hospitals, to the workers who are being fired or suspended from their jobs."
10. Close of banner, reading: (Spanish) "Not a peso (Argentine currency) for debt"
11. People passing by listening to protesters
12. Close of Socialist Workers Movement newspaper with caricatures of Argentina president Cristina Kirchner and other Argentine politicians dressed up as football players, headline reading: (Spanish) "Playing for the vultures"
13. Demonstrators clapping
14. Miguel Scarpino, nurse, listening to protesters
15. SOUNDBITE (Spanish) Miguel Scarpino, nurse:
"They are (hedge funds) birds of prey. It's an illegal debt, not contracted by the people, therefore it shouldn't be paid."
16. Demonstrators beating drums
17. Demonstrator chanting: (Spanish) "We'll burn all the vultures!"
STORYLINE
Leftist activists marched in Buenos Aires on Wednesday to protest against a group of US hedge funds that is in a long-running legal dispute with the Argetine government over a payment of 1.65 billion US Dollars in defaulted debt.
The hedge funds in Argentina are often called "vulture" funds.
Protesters burned a cut-out of a vulture with the colours of the American flag during their march toward the Argentinian Ministry of Economy building in the capital.
Argentina was scheduled to make a payment to its main creditors on Monday, but a US judge said it was illegal to do so without paying the hedge funds.
US District Judge Thomas Griesa has urged Argentina to continue negotiating with the funds that refused to participate in debt swaps in 2005 and 2010.
The Argentine government has a 30-day grace period after Monday to avoid going into its second default in 13 years.
Paying the hedge funds in full would likely trigger lawsuits from other bondholders demanding to be paid on similar terms.
Argentina's government estimates that the liability could run up to 15 (b) billion US Dollars.
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