Argentina reaches deal with “vulture funds” after 14-year legal battle

Sources close to the Argentinean president say indirect backing from the Obama administration during negotiations helped pave the way for the deal.
Argentina and its creditors – the so-called “vulture funds” – have reached a settlement deal after 14 years of disputes and court battles.
“It seemed like a thousand years to me,” the mediator told reporters on Monday, in reference to the long, drawn-out talks.
Although investors will suffer a 25% haircut, the deal is better than what others received in the past – some settled for 30% losses.
The latest deal with its creditors is the first big step in that direction.

Fuente: http://elpais.com/elpais/2016/03/01/inenglish/1456838717_902891.html