Spain says Argentina should follow Bolivia example and pay a ‘fair price’ for YPF
Toning down its initial strong reactions to the nationalization of Spanish controlled YPF Spain’s Foreign minister Jose Manuel Garcia Margallo said that Argentina should pay a “fair price” for the oil company citing a similar case in Bolivia this week.
Bolivia plans to make Spanish firm Red Electrica's local grid into an independent company after seizing it on Tuesday May first, Minister Garcia Margallo told reporters.
“This is the path Bolivia has taken and that I would like Argentina to take. It can still make a valuation for an independent company and pay a fair price,” he said.
Repsol, the Spanish company that controlled YPF until two weeks ago, says it is owed 10.5 billion dollars for its holding. Argentina has disputed this amount, accusing Repsol of covering up debts.
Red Electrica said it respected Bolivia's “sovereign decision” so long as it abided by international law and that it trusted it would receive “adequate compensation”.
The Bolivian government has promised compensation in 180 days following a private consultant estimate of the value of the company and any investments Red Electrica, which controls 75% of the country’s grid, could have made.
In Buenos Aires Argentina’s head of the Senate's Victory Front bloc Miguel Angel Pichetto stated that “Spain needs to accept the sovereign decision made by Argentina” in reference to the YPF expropriation, which was approved by a wide majority in both houses of Congress.
The senator further considered that the promulgation of the law by the government is “an important moment for the country that will go down in history.”
Pichetto added that “the measure is deeply linked to the identity of Argentines and has a very strong symbolism for the people.” He went on to say that “it also has a great significance for the development and growth of the country. Petrol, fuels and gas, they are all part of the industrial process in Argentina. We wish to continue to grow to be self-sufficient.”
Likewise Interior Minister Florencio Randazzo, highlighted the ‘overwhelming majority’ of votes in favour of the YPF expropriation bill, and recognized the “nobility and support from non-Kirchnerite politicians.”
“All of the political forces who have supported the law have embraced national history, popularly linked with this company, created in 1922 by Hipólito Yrigoyen. I think they understand that this transcends to this government and that this is a State policy,” Randazzo told a radio station.
He furthered praised President Cristina Fernández de Kirchner for a “decision that will affect Argentina for the next 50 years”.
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28 comments Feed
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Respol will take it to the ICSID and Argentina will ignore the ruling claiming it was bias or the ICSID doesn't have any jurisdiction within Argentina.
Argentina will then keep banging on about NON BINDING UN resolutions that have expired whilst ignoring international law.
I see you still can't write in English, even after all these extra weeks of trolling practice.
I do not write in English, you can understand my opinions if you have perceptions..don't be numb brain ..force yourself.
by the way,i saw your comments written in midnight from Norway
is it insomnia ?
Midnight? You clearly haven't gotten to grips with the world's time zones, you poor tragic retard.
Maybe this will help you: www.infoplease.com/ipa/A0855474.html
Argentina says “No, get furked”
Spain does absolutely nothing.
Repeat ad nauseum.
Their constitution is obviously worth fuckall in human and legal terms when it is changed as often as it is.
It just has no credibility.
I just hope the effect is positive. As the people of the country will suffer, not CFK.
If the whole thing collapses they have no-one else to blame.
Why shouldn't the people suffer. Any sympathy went out of the window when they re-elected that saggy old fascist whore after it was already glaringly obvious that she was presiding over a deeply corrupt regime that was sending the country down a one-way street to ruin. No-one forced them to vote for her .. and for a change they can't blame it on the junta.
May 05th, 2012 - 02:39 pm
I'm sure that we can find a way of blaming the Junta for Kretina being re-elected. It just takes a bit of effort, which we are not very good at.
But it is definetly somebody elses fault, definetly, it always is.
Nunca mas, you belong to the past
May 05th, 2012 - 03:33 pm
You're so right, I belong to a past when Argentina still had some moral credit in world affairs.
A past when the great majority of the world's people looked on us as normal and not whining, ridiculous fools.
A past when our President was looked up to by the people, even those who didn't vote for him. Long live the memory of Raúl Alfonsin and the great days of Argentine Democracy.
Very true.
Unlike the present lot that are looked upon by the free World as a bunch of comedians.
May 05th, 2012 - 03:40 pm
Let's hope then that Argentina one day returns to days like these.
Wrong answer
No disrespect to Spanish supporters,
But when you show weakness, CFK will show you her back side.
Perhaps the orange with the juice,
Is really a prune
All dried washed up.
Just a thought
.
Besides, YPF was a CONCESSION, it was never owned by Repsol. They were supposed to run it properly, and didn't. This was the case of Aerolineas Argentinas and many other concessions handed out under Menem.
If you want to respond to this, do so properly. I thought the Brits were supposed to be proper, instead of responding to arguments by calling people “moron” or “stupidhead”, which is the typical response I've gotten from this forum. Shame on you.
You're exactly right.
I just don't like seeing people suffer, however deserved, due their ignorance or naivety in buying the governments lies. You can sure that CFK and her cabal of yes men and La Campora thugs won't be feeling the pinch.
And I'm sure they already have a scape goat prepped and ready, the Easter Bunny, perhaps?
#18 “A past when our President was looked up to by the people, even those who didn't vote for him.”
And when the President always was a him? Is that what this is about with you?
“Long live the memory of Raúl Alfonsin and the great days of Argentine Democracy.”
I quite like Alfonsin actually, he was neoliberal like the others in his time and his last years were unsuccessful, but his strong line on the junta preceded that of Nestor and Cristina (and stood in stark contrast to Menem). I think he was quite friendly with Cristina in his last years, beyond party politics, am i wrong?
May 07th, 2012 - 11:44 am
In answer to your first question, no the gender of the president has nothing to do with it, what has to do with it is whether the person representing my country is dignified or not, I'm afraid your “queen” is not, she unfortunately is rather worse than her ghastly husband.
As to your second question I don't thing Don Raúl could stand her.
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