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Argentina: See fake AK-47s, mock executions at this anti-debt default demo01:18

Argentina: See fake AK-47s, mock executions at this anti-debt default demo

Argentina, Buenos Aires
August 23, 2014 at 10:35 GMT +00:00 · Published

Protesters took to the streets of Buenos Aires on Friday, railing against US-based hedge funds and redundancies at U.S. auto supplier Lear. The protest comes as Argentina's economy continues to tumble following a sovereign debt default on July 30. The default is partially a result of a breakdown of negotiations with US-based hedge funds, who have been demanding full payment on the Argentine bonds they hold.

Relations between the Argentinian government and some US companies have soured as a result of the default. The Argentinian government announced on August 15 that it will seek criminal charges against representatives of US printing company RR Donnelley & Sons after it closed its plant, resulting in the loss of about 400 jobs. President Cristina Fernandez de Kirchner stated on August 15 that the company sought to "create fear in the population" by closing the plant, which she said may be a violation of the country's anti-terrorism law that was passed in 2011.

Argentina last defaulted on its debt in 2001. In that default, dozens of people were killed in street protests and authorities froze financial accounts to prevent bank runs.

Argentina: See fake AK-47s, mock executions at this anti-debt default demo01:18
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Protesters took to the streets of Buenos Aires on Friday, railing against US-based hedge funds and redundancies at U.S. auto supplier Lear. The protest comes as Argentina's economy continues to tumble following a sovereign debt default on July 30. The default is partially a result of a breakdown of negotiations with US-based hedge funds, who have been demanding full payment on the Argentine bonds they hold.

Relations between the Argentinian government and some US companies have soured as a result of the default. The Argentinian government announced on August 15 that it will seek criminal charges against representatives of US printing company RR Donnelley & Sons after it closed its plant, resulting in the loss of about 400 jobs. President Cristina Fernandez de Kirchner stated on August 15 that the company sought to "create fear in the population" by closing the plant, which she said may be a violation of the country's anti-terrorism law that was passed in 2011.

Argentina last defaulted on its debt in 2001. In that default, dozens of people were killed in street protests and authorities froze financial accounts to prevent bank runs.