Montevideo, July 7 (Mercopress-RHC) -- Latin American ambassadors to the United Nations and Uruguayan Vice President Danilo Astori showed their support to Argentina in its dispute against holdout hedge funds. They agreed that the so-called 'vulture funds' are a risk to debtor nations and that they pose a threat to the region.

Ambassadors to the UN Sacha Llorente Solis (Bolivia), Oscar Leon Gonzalez (Cuba), Xavier Lasso Mendoza (Ecuador) and Samuel Moncada (Venezuela) expressed their support for Argentina in a joint conference with local press.

“[The Argentine case] shows how the world is organized, with speculative capital on top not only of the people’s rights but even the States’ sovereignty,” Llorente Solis said.

Venezuelan Samuel Moncada in turn pointed out that “the entire U.S. judicial system took sides with the speculators.” Cuba's Gonzalez added that the U.S. Supreme Court “decided to turn this dispute into an universal issue and intended to put US laws over the rest of the people’s jurisdictions”.

Uruguay's Vice President Danilo Astori also joined the group from Montevideo strongly condemning the U.S. Judiciary and Supreme Court for not considering Argentina's case.

Last week, Beijing was also involved when the spokesman of the Chinese Foreign Affairs Ministry Hong Lei called for a “suitable agreement” to be reached “as soon as possible,” praising the “measures” the Cristina Fernandez government has taken to restructure Argentina’s debt and “meet its payment commitments.”