Cooperation in energy development, closer economic ties including a free trade agreement and praise for Brazil’s economic and political leadership were some of the issues discussed by visiting US Secretary of State Hillary Clinton during her first day of meetings with Brazilian officials.
US Secretary of State Hillary Clinton said Argentina will have to justify and assume the responsibilities of its decision regarding the YPF dispute between Argentina and Spain, but at the same time defended models that include competition and market access.
The European Community strongly supported Spain and oil corporation Repsol saying that the expropriation by Argentina of YPF is “a very negative signal” for investors and could seriously damage the business climate of the country.
The Spanish government condemned Argentina’s announcement over the expropriation of YPF, calling it a “discriminatory” and “arbitrary” decision, and stated that it will adopt any measures deemed necessary to defend the interests of Repsol and every other Spanish company.
US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert, president of Dartmouth College faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister Ngozi Okonjo-Iweala.
Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.
Uruguay has fallen prisoner of Mercosur and Argentina because it did not sign the free trade agreement with the United States which was offered to the country in the previous government of Tabare Vazquez, said two-times President Julio Maria Sanguinetti.
The US will remain on the sidelines in the dispute between the UK and Argentina over the Falkland Islands sovereignty, said President Barack Obama on Sunday at the conclusion of the Summit of the Americas in Colombia.
The CEO from Spain’s main oil corporation Repsol, Antonio Brufau said that there should be no speeches or attempts to impose, but rather more dialogue, in direct reference to the ongoing conflict with the Argentine government over the possible takeover of the YPF branch.
Brazilian president Dilma Rousseff staunchly defended Latin American integration as she took part of the CEO forum at the 6th Summit of the Americas in Cartagena de Indias, Colombia. She blasted rich countries over their so called “monetary flooding” because it attempts against the industrialization of emerging nations.