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Aurelius Capital Management, one of the lead holdout creditors seeking to settle with Argentina over sovereign debt payments from its 2002 default, said on Monday the government faced a new crisis on July 30 unless it engages in real talks. Argentine officials and the holdout investors met separately with a court-appointed mediator on Friday, emerging from his offices after five hours of discussions, with no resolution and no further talks scheduled. Both sides have ramped up the rhetoric to explain why they are on one level eager to negotiate and on another at pains to show why the other side is not engaging.

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