Argentina offers to pay debts with cash & bonds

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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) — Argentina proposed a creative way out of its debt showdown Friday night, describing a mix of cash and bonds that it suggested would amount to a huge profit, but not a gargantuan one, for the investors it calls "vulture funds."

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