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Montevideo, May 24th 2024 - 01:16 UTC



US on YPF takeover: ”Having an open competitive market is a preferable model”

Tuesday, April 17th 2012 - 03:38 UTC
Full article 51 comments
Hillary Clinton is currently in Brazil after going dancing in Cartagena’s Havana club Hillary Clinton is currently in Brazil after going dancing in Cartagena’s Havana club

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.

“Having an open market is a preferable model”, said Ms Clinton who is on a two-day visit to Brazil. ”Models that include competition and market access have been the most successful around the world.“

“Decisions taken by the different countries are decisions they have to justify and will have to live with them”, said US Secretary of State. “It will be a very much debated decision and with good reason. An open market model fro energy and commodities is the best model of competition and market access”

However the top US official admitted she was not aware of all the details of the controversy involving Argentina’s bill sent to Congress, --where the government has a clear majority--, with the purpose of taking over the majority stake of Spain’s Repsol in its YPF branch in Argentina.

Ms Clinton insisted that an open market model with access to markets has been repeatedly proved and is the best in the whole world”.

Following the Monday announcement from President Cristina Fernandez, Repsol called the action was ”clearly illegal and gravely discriminatory” and said it would take all legal measures it could take to preserve the value of its assets and the interests of its shareholders.

In Washington at the daily press briefing on a specific question regarding Argentina’s plans to Spanish owned oil company YPF, the State Department spokesperson said that “we are aware that Argentine President Cristina Fernandez de Kirchner proposed a draft law to nationalize a controlling interest in oil energy company Repsol-YPF. We are following developments on this issue. We are not currently aware of any WTO complaints related to this issue”.

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  • Think

    Having an open competitive market is a preferable model”

    Yeahhhh sure; for you.....

    Always wondered how many of the turnips babbling about the “Free Market” have actually ever seen the complete EU Customs and Tariffs set of rules?

    Last time I saw one in its paper version it was about 28 volumes, about 21,000 pages occupying circa 2.5 lineal meters of shelf space……………..

    And the US one is nor smaller…………

    Open and competitive market, my left foot!

    Apr 17th, 2012 - 04:15 am 0
  • Britninja

    You'll have to sell your left foot and other organs/body parts to buy food at this rate. Congrats on being such a rabid supporter of such an obvious lunatic *chuckle chuckle*. Now hurry up and flush yourself down the toilet of economic oblivion where you belong.

    Apr 17th, 2012 - 04:26 am 0
  • Vietnam

    Hillary's words are as serious as the photo that Mercopress decided to put to illustrate the post. :-)
    The neoliberal model is over, you need realize the countries of the Old World and North American system are destroying their populations in terms of culture, education, home economics, health, environment and favors only a handful rich at the price of poorer to others. The market alone can not distribute wealth fairly. It is inconceivable that only 5% of the world population controls 90% of global resources. They are operated by all those who make the wars for oil, the states of these regions are puppets of them do not care about their people, we need a change in a global society.

    Apr 17th, 2012 - 04:34 am 0
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