Argentina may defy NY courts with payment offer

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FILE - In this Aug. 2, 2012 file photo, Argentina's President Cristina Fernandez speaks at an event marking the 158 anniversary of the stock exchange in Buenos Aires, Argentina. The South American country has until midnight Friday, March 29, 2013 to propose how it would satisfy a $1.4 billion judgment won by plaintiffs in U.S. courts who have insisted for a decade on getting full payment in cash, plus interest and penalties, on sovereign debt that the country hasn't paid since its world-record default in 2002. Fernandez's government is reportedly preparing a response that analysts say could lead the country into another catastrophic default. (AP Photo/Eduardo Di Baia, File)BUENOS AIRES, Argentina (AP) — With just hours to go before Argentina has to show its last cards in a billion-dollar debt showdown in the U.S. courts, President Cristina Fernandez seems to be keeping up her "we're going for more" motto. Her government is reportedly preparing a response that analysts say could lead the country into another catastrophic default.

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