YPF seizure has sent “shockwaves” globally; Argentina will “suffer consequences”
European Trade Commissioner Karel De Gucht said Argentina is in for long term consequences after sending “shockwaves” internationally with the announced plans to expropriate 51% of YPF shares owned by Spain-based Repsol oil and gas company.
“By taking this action, Argentina has sent shock-waves through the international business community,” De Gucht said in a speech.
“The consequences for its own economic development will be felt for a long time to come,” he told the European Parliament’s Committee on International Trade (INTA).
De Gucht also said the bloc would take measures to shield itself from an insecure investment climate. The expropriation of YPF shares, “remind us all of the importance of moving quickly to equip the European Union with all the means it needs to implement an effective investment policy.”
The Commissioner said the bloc is looking into retaliation measures “taking into account of the fact that this follows a series of unjustified and damaging protectionist measures recently introduced,” De Gucht pointed out.
The EU would do “everything in [its] power” to support the Spanish government's claim for full compensation, he added.
Likewise Spain's Foreign Minister José Manuel García Margallo said that the Argentine government plans for the expropriation of YPF shares will end up a case at the World Bank International Centre for Settlement of Investment Disputes (ICSID).
“It doesn’t look like it worries Argentina’s authorities very much since when they loose, they don’t pay,” the Spanish official told Chilean conservative newspaper El Mercurio.
“The case will end at the World Bank International Centre for Settlement of Investment Disputes, in Washington. Argentina accounts for 50% of the world’s cases registered at the ICSID and for 50% of the South America’s arbitrations,” Garcia Margallo remarked.
The Foreign minister also openly criticized President Cristina Fernández government by saying her administration had “no direction” and that it would cause “serious damage to Argentina.”
Garcia Margallo condemned Argentina for affecting commercial relations between Europe and the Mercosur.
“It is not fair for the countries of the Mercosur to be left out of the system for tariff preferences because Argentina cannot respect the rules.”
ICSID is considered to be the leading international arbitration institution devoted to investor-State dispute settlement. The primary purpose of ICSID, according to the World Bank, is to provide facilities for conciliation and arbitration of international investment disputes.
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Corrupt nation is corrupt.
** Awaits ridiculous claims from Argentine posters who have been brainwashed that its fair, reasonable and even good... Oh and lets not forget some who will undoubtedly post about it not being worth the value it was due to be sold at before being stolen from Repsol **
Two guesses. Who am I?
LOL.
If you wanted to completely and utterly destroy all confidence in Argentinean markets and companies then this is how you do it!
Spectacular job CFK!
7 out of 10 for your first answer and 10 out of 10 for your second. It could be any number of them. Green with envy and red with rage. They'll get used to it. Then it will just be a dull ache.
To 90% of the brits in this “forum”
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!
and think thats wrong, to stand up to bullys,
AHHHHHHHHHHHHTTTTIIIISSSSHHHHOOOOOOOOOOO
1. Oil
2. The Falklands
3. The tension between Colombia and Venezuela
4. the rise of communism/marxism in South America
5. An arms race
6. The Growing influence of Russia and China in the region
7. Antarctica
8. Relations with Iran, Syria and other bad boys of the world
The UK of course is a real irritant here as it has a very strong foothold in one of the most strategic parts of that world ie the gateway to Antarctica and also the resources that are in those waters. It is just inconceivable that the UK will give that up.
If the US didnt have bases in colombia i'm certain that the Venezuelans would have been in there by now and the Us probably knows this. Tensions with colombia are growing.
There is a definite communist axis starting to grow in South America and this will manifest itself in the next year or two. The UK needs to be ready for this.
Maybe WW3 will be fought in south america or perhaps on two fronts in perhaps the south china sea.
something is going to happen and the UK will be right in the middle of it.
No SA will send them home.THe NA1 uk does not have a foothold,they have nothing.A minibase with 1500 soldiers,and a bankrupt country...SA told you OUT!
Yes it is, and it should be flushed down the toilet..a.s.a.p. Spain is broke and it's leaders are a bunch of cowards for not standing up themself. Look it them, going around the world begging other leaders for help..it's pathetic.
Foreigners may not like it what Argentina did, it's not our problem and each nation should have contol over it's natural recources. What they do with it, is their problem...and Spain, well to bad for them, they'll keep crying while having and feeling double pain.
Does that remind you of any other Spanish speaking country?
There is nothing for the UK to give up in Antarctica because the UK has no recognized administration in Antarctica or its waters.
Everything in antarctica is frozen - including the claims.
Hmmmm who does that sound like? Oh yes Argentina!
Like farther like son I guess.....
South America will do nothing because it isnt strong enough militarily. The UK has one of the most potent military forces in the world and the first two countries on the radar of the US and the UK will be Venezuela and Argentina.
There is an increasing arms race in south america particularly Brazil and Venezuela and in talking of Antartica one of the firts nations to militarise that region was Argentina who considers that area part of its jurisdiction. It is rumoured that they are the only current nation with arms in its station in that region. China also wants in.
The problem for Argentina is that it has little money and must desperately raise some to finance a new war in the Falklands. Cue China, who will move in to Argentina and effectively take it over.
there is a new found marxist confidence in south america that has been led by Venezuela and Brazil and they will eventually make the huge mistake of thinking that money woes in say the US and EU translates into military weakness.
All of the crap in the world are starting make alliances - Russia, China, Iran, Argentina, Syria, Venezuela, North Korea. Hideous regimes who cannot under any circumstances be allowed to dictate world affairs.
the UK needs to come up with a strategy for the UK, both internally and externally and its the one thing that bothers me about our country ie the lack of strategic planning. All departments such as the MOD, Home Office, MOJ need to formulate and co-ordinate a credible plan for our country which includes retaining the Falklands and gaining an increasing influence in South America.
I agree. But while all of these tensions and dangers are stirring up, what do all of the politicians of Labour, L-D's and Conservatives do? They CUT the armed forces spending, send them into battle without the proper kit, they reduce the surface fleet to practically nil and then say that they are “Proud” of our armed forces and that they are the best in the world. Well if they are that good and you're that proud of them, then SPEND THE F**KING MONEY ON THEM!!!
Don't reduce the surface fleet to less than 30 ships
Don't reduce the army to less 200,000
Don't reduce the air force to pre ww2 numbers
The MoD budget needs to be twice what it is now to make up the short fall. To make good years of nglect and cut backs.
For a start, “Sir” John Nott and other authors of the MoD “White papaer” all need stringing up by their big toes!!
The real villans of the Afgan war are not the taliban, the real Villans are the Politician's who sent the army out there with the wrong kit, lack of support and not enough equipment to do the job.
Shame on you Tony Blair!!!! Shame on you Gordon Brown!!! and shame on you David Cameron and your little B*tch Nick Clegg.
Philippines anyone?
@20 Alliances already exist between 'good and human' countries like the UK & USA, UK & Canada, UK & South Africa, UK & Australia/Kiwiland...etc. We just need to ensure that those alliances stay strong during the passage of years.
As that film said, Freedom isn't free.
corrupted..isnt it ?
Apr 26th, 2012 - 10:01 pm
Yes and when they get their arses handed back to them they will cry 'foul!' and 'you shot at us you criminal squatter!' and other such bollox and the ritual Argentine self flagellation, self pity mongering and general mind fuckdedness will continue as it always has and always will. To a Malvinista, it is always, without fail or fear of contradiction, somebody else's fault and responsibility.
l beg to differ old chap.
Plenty of Filipinos speak Spanish.
lts where l had my first Spanish lessons.
Never kept them up & now have forgotten most of the language.
They also have quite a few creole languages that are a mixture of Spanish & native languages.
Chabacano is one. spoken around the ex Spanish, then ex American Naval base of Cavite City.
l would agree that English is more widespread but still a lot of the old people speak Spanish & some Cantonese.
They love the Americans, thats true, but are proud of their old families' Spanish surnames.
And corrupt! oh very much so.
You can probably buy anything in the world in Manila.
For the right price of course.!
And they will even give you a receipt if you ask for it!
Apr 27th, 2012 - 04:09 pm
I'm afraid that is exactly what Kretina wants to do, turn Argentina into another Venezuela.
I'm not too sure why she wants to, but I can only surmise that she and her unpalatable court are making money out of the deal.
What is definitely true is that we ordinary Argentines are being robbed blind of what little we have just as the Peronists have robbed us for the last 60 odd years.
Money. That's all this is about, that is what it has always been about. Most Argentinian are too blind, too caught up in the BS that she spouts to question why. All execpt you my friend - Simon68.
You're right, it is sad, Most Argentinian's are decent people. They have just been fed lies and BS for too long and now don't know the truth, the truth about what has happened, the truth about the world around them and the truth about what their own government is doing to them, Stealing from them and how they will suffer for KFC's and her families greed.
By the time the masses realise what has happened it will be too late. she will be in one of her son's hotels in America while the country that followed her blindly, starves to death.
Have you seen the indoctrination centres,
allow me, have you seen that clip from DR Who, where they convert humans into cyber men,, they go in normal, and come out looking rather silverish, and indoctrinated,
To late we fear, to late lol.
Inxect: AHHHHHHHHHHHHHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAAAHH
l don't think even the best doctors could recover you.
Sad.
When your fathers and uncles all put their hands up in June 1982 , they were given their first hot food ,change of clothes and medical care for 3 months . Not by YOUR officers , but by British soldiers , who in many cases were sharing their own food with them , even though they too were hungry .
The veterans do not tell people this , because they are afraid to lose their war pensions , which are awarded and administered by people who were never even in the war , in other words , Kirchnerite scum.
You see , we Brits are a fair race. Once the war is over they shake hands , make peace , move on . RG's ? No , they distort the truth and perpetuate lies .
Interesting,
I prefer his side kick .mm
Argentina's 'plans for farewell intercourse law so widows can have sex with DEAD husbands' branded a 'complete nonsense'
By DAILY MAIL REPORTER
PUBLISHED: 28 April 2012
Alleged proposals to allow Argentine widows to legally have sex with their dead husbands for up to six months after their death have been branded a 'complete nonsense'.
The controversial new 'farewell intercourse' law was claimed, in Argentine media, to be part of a raft of measures being introduced by the Peronist-dominated parliament.
Controversial: The 'farewell intercourse' law is 'a complete nonsense', and was confirmed after re-interviewing sources
Sources inside the Argentinian Embassy in London have said the claims were 'completely false', and 'could never imagine it happening'.
The source said the proposal, if it even existed, had not reached the congress- although it was also admitted it could be the work of an extremist politician. Although not officially rebutted, the claims that someone inside Argentina could introduce such a law provoked widespread skepticism.
Joe Bloggs isn't Argentine, he was mocking a certain malvinista.
As you say, taking the p*ss.
AHAHHAAHAHAAHHAAH
Yeah..moven on.We told you to move out of MAlvinas since 1833.....You did not....
l think that its far, far too late for you Malvinero.
l don't think even the best doctors could recover you.
Sad
isolde: Who cares.AHHAHHAHHAHHHAHHAAH
Don't reduce the surface fleet to less than 30 ships
Don't reduce the army to less 200,000
Don't reduce the air force to pre ww2 numbers
Just concentrate in the crippling uk economy...and the very corrupt government you have there..poor deluded brits,living in the past...the empire is gone...never to come back..
we agree ...
The old Empire has gone, but we want another one.
Argentina & Antarctica will do quite nicely.
You can stay though.
l need a gardener.
£1 per week plus your board & keep.
Love,
the Memsahib.
if he knows what work is . lol
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