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Montevideo, March 31st 2023 - 12:23 UTC



Brufau said Repsol will demand a compensation of 10 billion dollars

Wednesday, April 18th 2012 - 08:34 UTC
Full article 81 comments

Repsol’s Chairman Antonio Brufau said the Spain-based group will demand to Argentina a compensation of 10 billion dollars after President Cristina Fernández decided to nationalize the energy giant. Likewise, Brufau accused the Argentine government of “having distorted information” on regards the company’s production during Monday’s presentation. Read full article


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  • GreekYoghurt

    ”They [Argentina’s government] are distorting information”.

    Come now, Mr Brufau, it's not like Argentinians to distort important historical information... *cough* history of the falklands *cough* ... and it's not like the Spanish to not notice this when claiming 'neutrality'.

    Apr 18th, 2012 - 09:36 am - Link - Report abuse 0
  • Britishbulldog

    Yep how to piss of your allies in one easy lesson, frigging idiots. But then as we all know Argentina has yet to learn the word honour

    Apr 18th, 2012 - 10:47 am - Link - Report abuse 0
  • RedBaron

    Collect $ 10bn from the RGs? Good luck with that- they'll be lucky to get $ 10.

    Apr 18th, 2012 - 10:58 am - Link - Report abuse 0
  • toooldtodieyoung

    Did I just hear a toilet flush? Or is that Argentina's last friendly relationship swirling down the pan?

    I can not believe how stupid CFK is being in this matter........ What am I saying? of course I can, Never underestimate the power of stupid people in large groups.........

    Apr 18th, 2012 - 11:01 am - Link - Report abuse 0
  • Chicureo

    #4 She's despicable, but not stupid. It's insane from a good governance perspective to do what she's doing, but very cunning if you desire to pillage the assets of your country.
    #3 They'll tie this up in courts and arbitration before settling a decade later on some semi-worthless bonds swap or something. The ICSID definitely will rule in favor for Repsol, but I doubt the company will get more than 20% of the original claim. Spain is rightfully furious, because they realize that CFK will get away with this theft.
    This morning a respected European economist mentioned in an interview that Argentine Peso devaluation is likely within the next 14 months, as Argentina has been living off government spending that has bled its private sector and lately triggered huge capital flight. It's cheated on its statistical data and failed to resolve its last sovereign debt default of $100 billion a decade ago with the markets expecting CFK to again default on Argentine sovereign debt. Several countries are already starting WTO actions against Argentine ‘protectionist practices’ along with Spain planning serious reprisals. Moodys, Fitch and S&P are expected to downgrade the Argentine financial rating to a B- .

    Meanwhile in the Plaza de Mayo, they’re cheering the new “Evita” with fervent adoration.

    Apr 18th, 2012 - 12:41 pm - Link - Report abuse 0
  • Malvinero1

    Did I just hear a toilet flush? Or is that Argentina's last friendly relationship swirling down the pan
    AHAhah the brits idiots have no clue.
    There is justice demad against repsol,brufau, and several executives.repsol will have to compensate Argentina for not investing according with the contract and tax evasion.repsol is in deep trouble.
    Elisa Carrió ratificó su denuncia contra Repsol YPF

    Apr 18th, 2012 - 12:44 pm - Link - Report abuse 0
  • toooldtodieyoung

    6 Malvinero1

    Malvi-baby!! you don't ever disappiont do you?

    Apr 18th, 2012 - 01:01 pm - Link - Report abuse 0
  • Malvinero1

    Malvi-baby!! you don't ever disappiont do you?
    No! That is the truth! There are several penal demands,against the directors of repsol,including brufau.....They will have to pay Argentina.....AHAHAHAH brufau is dead,Stupid brits!

    Apr 18th, 2012 - 01:04 pm - Link - Report abuse 0
  • owl61

    What are the terms of the contract that Repsol is alleged to have breached? Is the contract a public document? Does it provide for nationailzation for breach of a term or does it provide for some other remedy?
    Carria denounced Repsol in 2006 ( for conduct prior thereto)...isn't there some kind of statute of limitations even if her accusations were valid?

    Apr 18th, 2012 - 01:12 pm - Link - Report abuse 0
  • toooldtodieyoung

    9 owl61

    I wouldn't, under any circumstances, expect too much in the way of logical, well thought out debate on the part of me ol' mate Mavli-baby.

    In general, his posts are for entertainment only and should not be looked upon as “real” conversation .

    Apr 18th, 2012 - 01:18 pm - Link - Report abuse 0
  • DJ56


    Are you completely mad?
    Claims against YPF are just that. A company is distinct from its shareholders, so a claim against YPF is not a claim against Repsol, or a claim against Repsol's MD.
    Repsol has announced it will take this to an ICSID arbitration. They have good grounds for this, as the bilateral investment treaty between Argentina and Spain firstly prohibits discriminatory treatment (in other words, singling out the Spanish Repsol group's holding in YPF for expropriation whilst leaving that of the Argentinian Pedersen group intact was illegal) and secondly only allows expropriation if proper compensation is paid (and you calculate this by reference to the value of the expropriated holding - and to do this you apply the relevant % to the value of the company. You don't apply the cost of environmental liabilities and debts to reduce the value of the expropriated holding (as the Argentinian government seems to be suggesting), you apply this to reduce the value of the company as a whole.
    the fact is that in the eyes of international law the only culpable party here is the Argentinian government, and that is how this episode will be seen by foreign governments and investors.

    Apr 18th, 2012 - 01:18 pm - Link - Report abuse 0
  • Malvinero1

    What are the terms of the contract that Repsol is alleged to have breached? Is the contract a public document? Does it provide for nationailzation for breach of a term or does it provide for some other remedy?
    No,because,in the original contract,given to Repsol.they have agred to reinvest utilities for exploration.They just shuffle the dividends,. Of course in this move,Argentina,still had the Gold stock(veto power to change the revenues directions).Mr BAratta,representative of the Argentine government,could have changed the revenues direction. This of course will touch Argentine politicians,the PSOE(Spanish),and of course the Kirchners.Now the court will have to determine,if Mrs Kirchner,was aware of such deals.And why Argentina did not stop the composition of the revenues direction.So it is becoming a big political scandal.They migth ban repsol to operate in N York and Frankfurt sotcks.It seems the acussations are very well founded, and the SEC migth ban repsol for operating publically....
    Interesting times ahead....
    Carrió amplió denuncias contra el directorio

    Apr 18th, 2012 - 01:25 pm - Link - Report abuse 0
  • toooldtodieyoung

    9 owl61 and 11 DJ56

    You see what I mean about not expecting well thought out debate from Malvi-baby? ( 8 Malvinero1 )

    ( sigh ).............. and I thought he was getting better.......

    Apr 18th, 2012 - 01:26 pm - Link - Report abuse 0
  • Malvinero1

    You see what I mean about not expecting well thought out debate from Malvi-baby? ( 8 Malvinero1 )

    ( sigh ).............. and I thought he was getting better.......
    dead: Are you and idiot 100% of the time,or only in this forum??

    Apr 18th, 2012 - 01:28 pm - Link - Report abuse 0
  • GreekYoghurt

    @12 What you are saying involves nothing but assumptions. If you want to provide a link to the original contract, then we can all look at it and then assess who acted illegally, and I doubt it was Repsol.

    Apr 18th, 2012 - 01:30 pm - Link - Report abuse 0
  • xbarilox

    Guess Mr Brufau will go through a painful wait for what he pretends :)

    Apr 18th, 2012 - 01:35 pm - Link - Report abuse 0
  • yankeeboy

    Is Argentina Becoming the New Venezuela?

    “The step taken by the authorities in Argentina is a response to specific home-grown challenges brought about by the unraveling of a model that has served the country well since the devaluation of the peso in 2001,” economists at Capital Economics wrote in a research note. “The peso has come under persistent pressure and capital flight is accelerating. Against this backdrop, expropriation of foreign-owned companies has presumably become a useful way to obtain hard currency.” cnbc

    I love when my posts become headiness of International news you think they read them?

    This will end up at the ICSID, Argentina will lose, not pay their demand because they are deadbeats, and depending on what the US Supreme Court rules this summer Spain may attach the BCRA reserves. Although at this point Arg is bankrupt anyway. If there were forced to pay just their outstanding USA judgements and the Paris Club they would be negative.
    Now do you see why they are expropriating anything with U$.
    Their only solution is a HUGE devaluation and it will happen very soon, I'm guessing 10/1 but it will get away from them and may settle out to 16/1.

    Apr 18th, 2012 - 01:52 pm - Link - Report abuse 0
  • DJ56


    spot on.

    Apr 18th, 2012 - 02:06 pm - Link - Report abuse 0
  • toooldtodieyoung

    14 Malvinero1

    Sorry malvi-baby......

    Everyone else was thinking it, I just said it........

    Apr 18th, 2012 - 02:12 pm - Link - Report abuse 0
  • GreekYoghurt

    @17 I don't disagree on any of the points you mentioned.

    Apr 18th, 2012 - 02:14 pm - Link - Report abuse 0
  • yankeeboy

    The other fall out is Arg companies listed in NYSE are falling like a rock. Which means they can no longer issue stock for capital and probably noon will buy their bonds. She has royally f'ed the economy the only outcome can be less capital expansion and layoffs. So more nationalization will be required to “protect the workers” A vicious cycle has started and there is no turning this around until the gov't is gone.

    Apr 18th, 2012 - 02:16 pm - Link - Report abuse 0
  • zulu99

    I would be interested in hearing from an Argentine how the nationalization of YPF will benefit the country as a whole and what benefits they feel the typical Argentine will see from it? Feel free to go into as much detail as you'd like. Thanks.

    Apr 18th, 2012 - 02:17 pm - Link - Report abuse 0
  • Welsh Wizard

    21 yankeeboy
    You will love this article...

    Apr 18th, 2012 - 02:23 pm - Link - Report abuse 0
  • GreekYoghurt

    @22 It's unlikely to benefit the general population, they all know it. The only people who will benefit will be La Campora who will pick it clean and other KFC cronies.

    Apr 18th, 2012 - 02:27 pm - Link - Report abuse 0
  • yankeeboy

    23. What the writer doesn't understand is that any country can print money and give it out to heat up their economy...for awhile until it overheats and implodes. It is very difficult to predict when it will implode but the outcome is assured. The RGs did nothing but strip all the hard currency out of their country and replace is with worthless pesos and bonds which flooded their country with cash . It is no miracle. They were warned for years this was coming and never did anything about it.
    The wheels are flying off now and it is going get really ugly most likely with hyper inflation right around the corner.

    Apr 18th, 2012 - 02:47 pm - Link - Report abuse 0
  • Welsh Wizard

    25 yankeeboy

    Would be interested to hear your predicted timetable. I've been saying this for a while to friends in argentina but it has fallen on deaf ears. Also, a number of analysts have been saying that this will happen for a couple of years but as yet hyperinflation hasn't happened...
    Should we telling family in argentina to put money into gold or other commodities as it is very difficult to get US$ out of the country now...

    Apr 18th, 2012 - 02:58 pm - Link - Report abuse 0
  • yankeeboy

    As I said, predicting the chain of events is easy saying when they will happen is almost impossible. Some of the reasons CFk has been able to delay the inevitable is people never thought that she would do something unconstitutional or break international agreements (people forget history very easily). She stole Anses, U$25B and Increased cash flow that helped a couple years, devoured union insurance premiums more cash flow, depreciated peso more cash flow ( although this was predictable) etc etc etc. It has kept them going until now.
    My advice is to buy U$, Chile, Uruguay pesos (not Brazil $) or hard portable assets, the peso will go to 10/1 sooner rather than later. I just don't think they can stabilize it once the panic sets in. It is already U$5+ in the gray market so that is the real price and the real market will push the gov't to get it to the gray price very soon.
    I had 2 RG friends with US passports ask me to help them find a job here in the US. I think the reality and fear is starting to set in.

    Apr 18th, 2012 - 03:15 pm - Link - Report abuse 0
  • Brit Bob

    The current politburo set up in Argentina depends on creating enemies to dupe the public so they can blame their woes elsewhere. A few weeks ago it was the UK, now Spain, the EU, USA and international investors everywhere. Argentina is fast becoming an international periah.

    Apr 18th, 2012 - 03:23 pm - Link - Report abuse 0
  • ElaineB

    @26 When I flew out of Buenos Aires less than three weeks ago, all Argentines had to line up and fill out a form listing every item of value in their hand luggage. Laptops, cameras, jewellery, etc. It was somewhat humiliating for them.

    Apr 18th, 2012 - 03:42 pm - Link - Report abuse 0
  • Welsh Wizard

    27 yankeeboy

    Interesting, yso you're sort of saying that this could be the straw which breaks the camel's back. Interestingly, there is lots of discountent with the way the telephone system is run in Argentina...could telefonica be next?

    Apr 18th, 2012 - 03:42 pm - Link - Report abuse 0
  • GreekYoghurt

    @29 it'll be internal passports and travel documents next... just like in DPRK.

    @30 I'm surprised Telefonica wasn't announced on the same day.

    Apr 18th, 2012 - 03:48 pm - Link - Report abuse 0
  • yankeeboy

    31. Any company with a large cash balance or huge cash flow is a target. If she gets away with stealing YPF I would bet she goes after all the companies with weak gov'ts. I don't think she would touch a US based co tho....

    Apr 18th, 2012 - 03:50 pm - Link - Report abuse 0
  • GreekYoghurt

    @32 La Campora eat US based companies for breakfast (Maximo literally does)

    Apr 18th, 2012 - 03:59 pm - Link - Report abuse 0
  • Welsh Wizard

    I expect that she'll have to do it quickly before she sees funds dry up due to reciprocal trade measures being taken by Spain/EU etc...I wonder if Spain will decide that seizure of Argentinean assets in Spain is the way forward. Obviously this would normally be for non-payment in relation to Gilts but the rhetoric from Spain is that they are almost treating Repsol as a government entity...

    Apr 18th, 2012 - 04:01 pm - Link - Report abuse 0
  • Tobers

    Argentines dont care what the world thinks of them. They really dont. Thats nationalism for you.

    Argentina will look for others support on issues - Las Malvinas- , trade etc but when it doesnt get what it wants it just says 'well I dont need you anyway'

    Theres a general sense of irresponsibility in Argentina. Sure CFK has her many critics but they are just words. Just endless debate programs for the middle class and rich. No one is really taking responsibility to improve this continuous cycle of political and economical instability. Corruption is widely tolerated 'well at least shes not as corrupt as Menem' etc

    Every week is a new week. For example noone is talking about Las Malvinas anymore and yet CFK had spent a number of months building up the tension virtually promising that Las Malvinas would become an official regional issue. She failed utterly and so turned this YPF thing into an emergency issue rushing back to put the wheels the motion to distract Argentines. And her ploy has worked very well. Beating the Nationalistic drum once again.

    Im not saying YPF hasnt been doing a great job. Perhaps there was room for improvement but she obviously used this as a political manoeuvre. And being so nationalistic most people including the more moderate are saying -yeah its our oil anyway Argentina, Argentina...-

    Apr 18th, 2012 - 04:32 pm - Link - Report abuse 0
  • Chicureo

    #29 Actually Elaine, part of that is so that when you return, you don't have to pay taxes on what you left with. Even in Chile people line up to register new notebooks and expensive cameras. In Chile they are very strict on bringing in agricultural products and the fines are horrific. Buying Euros, Dollars and Chilean Pesos is good, but I would avoid Uruguay currency as they are tied too close to the Argentinean Peso. Good place to deposit money however...

    Apr 18th, 2012 - 04:36 pm - Link - Report abuse 0
  • GreekYoghurt

    @35 *beats drum* *shakes pitchfork in the air*

    Apr 18th, 2012 - 04:40 pm - Link - Report abuse 0
  • aussie sunshine

    I think Repsol should invest in the Falklands and help the Falklanders
    search for that oil which is near by!!! and help out these people.....

    Apr 18th, 2012 - 04:45 pm - Link - Report abuse 0
  • ElaineB

    @36 I have flown in and out of Buenos Aires numerous times over the last 3 or 4 years and this has never happened before. It is a totally new development and the Argentines were not at all happy about it.

    Yeah, it is usual to declare mobile phones, money in excess of $10,000 etc. when entering the country and I always complete the form. However, not once has the form ever been collected at customs.

    The customs form for Chile does not mention mobile phones but money and argicultural products. They do collect the forms and read them. : )

    Apr 18th, 2012 - 04:52 pm - Link - Report abuse 0
  • Conqueror


    And these court demands are where? argieland? Stuff that then. The gangsters have no proper judicial system. Just kangeroo courts directed by the chief gangster.

    Apr 18th, 2012 - 04:52 pm - Link - Report abuse 0
  • GreekYoghurt

    @39 They should have a TV show like Australian “Border Security” where the Argies check everyone's bags and mail leaving the country to make sure it's not full of dollars.

    Apr 18th, 2012 - 05:13 pm - Link - Report abuse 0
  • yankeeboy

    I seriously think gun boat diplomacy is the way to go with these dirty thugs. I really don't see any other alternative. Plus other than RGs who would object or care if Spain, UK or US took out their refineries, airports and docks? Give them a 1/2 warning to clear out the people and BOOM ask for an x-fer within an hr, no x-fer BOOM, ask for an xfer in 15 minutes, no answer BOOM, just keep going until they are paid back. It shouldn't take more than a day.

    Apr 18th, 2012 - 06:06 pm - Link - Report abuse 0
  • Welsh Wizard

    42 yankeeboy

    Think that may be a little over the top! However, I wouldn't rule out the diplomatic equivalent from Spain. I expect that they will probably expect more nationalisations so may try to strike hard and fast effectively trying to hamstring Argentina straight away...

    Apr 18th, 2012 - 06:19 pm - Link - Report abuse 0
  • Chicureo

    #39 This is news to me. I was just at EZE three weeks ago and didn't notice. The currency checks however I know are being strictly enforced. There was a story of an Argentine caught with a pocket “travel guide book” which the inside pages were USD100 bound by an original guide cover. Also now on the hydrofoil link between Buenos Aires and Montevideo, they randomly they go through business papers in briefcases.

    Apr 18th, 2012 - 06:33 pm - Link - Report abuse 0
  • Malvinero1

    And these court demands are where? argieland? Stuff that then. The gangsters have no proper judicial system. Just kangeroo courts directed by the chief gangster.
    Coming from the law breakers,ppirates,killers,drug dealers number 1,is reasuring...
    conqueror: You are an IDIOT! Pirate scum!

    Apr 18th, 2012 - 06:33 pm - Link - Report abuse 0
  • yankeeboy

    43. It was a joke....or was it :) Pre 20th century diplomacy (in general) worked pretty well. It's the USA who has made this all but impossible with all their silly rules and moral superiority. hahaha

    Apr 18th, 2012 - 06:36 pm - Link - Report abuse 0
  • Welsh Wizard

    46 yankeeboy

    I know, the Anglo-Zanzibar War (38 minutes) being the classic example!

    Apr 18th, 2012 - 06:38 pm - Link - Report abuse 0
  • ElaineB

    @44 I flew home on the 30th March and it was just as you go through to security. Argentines to the left and everyone else to the right. It was confusing for everyone and people were not happy, especially as they only had one man processing the forms and the queue was long. The system wasn't in action when I flew to Chile from BsAs on the 6th February.

    I hadn't heard about the guide book. : ) I am guessing they will get more imaginative as they try to protect their savings.

    Apr 18th, 2012 - 06:53 pm - Link - Report abuse 0
  • Welsh Wizard

    This sounds interesting, am heading there with my wife in September, I may suggest that she uses her British passport instead to make sure she doesn't have to put up with the hassle...

    Apr 18th, 2012 - 07:00 pm - Link - Report abuse 0
  • yankeeboy

    49. Last i heard they had $ sniffing dogs at all exit points Buquebus, Airports and Int'l bridges. They won't be able to keep the $ from leaking and eventually people will resort to unconventional forms of payments. Like CFK trying to pay for LNG with Soy Oil...
    Patacones are not too far away Provincial Govts already can't pay salaries or invoices.

    Apr 18th, 2012 - 07:03 pm - Link - Report abuse 0
  • Welsh Wizard

    50 yankeeboy

    Where do you get your info from, sounds like it is direct from source.

    Apr 18th, 2012 - 07:15 pm - Link - Report abuse 0
  • ElaineB

    @50 I didn't notice dogs at the international airport. I would imagine most people would try to take money out through the ports to Uruguay or across the border to Chile maybe?

    Apr 18th, 2012 - 07:19 pm - Link - Report abuse 0
  • Brit Bob

    @38 Argie Sunshine

    That is a good idea as Repsol will understand that the FIG and the UK will stick by any contracts awarded unlike the Argentine politburo.

    Apr 18th, 2012 - 07:23 pm - Link - Report abuse 0
  • tobias

    I would be nice if all the foreigners talking sh!t about Argentina all day long would for once enlighten us argies on how you resolved the problems of your home countries. Since I am sure you guys would never throw stones unless unemployment, deficits and debt, crimes, shootings, racism, discrimination against natives, and health care problems in your nations have become a thing of the past.

    Come on guys... who wants to go first? A Brit? Plenty here. An American? Yankeeboy wanna try it... A Welsh? Got one too. An Aussie? There's a couple. Chileans? Chichureo step up please. Uruguayan? I know there's a few here. Brazilian? I've seen one or two I'm sure theres some lurkers. A Norwegian, Spaniard, Italian, German? Let's go!

    I wanna hear of your paradises were want is history, crime and corruption are unheard of, everyone is wealthy (and speaks three languages each), with everyone drinking fine wine every night and fully employed with no worries in the world.

    Denizens of Utopia, please heave us benighted argies from our stygian chasm and vouchsafe us loutish untermenschen a glimpse of how was it that your nations achieved reaching the Pantheon of existence.

    Apr 18th, 2012 - 07:34 pm - Link - Report abuse 0
  • ElaineB

    We discuss the news stories here.

    Apr 18th, 2012 - 07:36 pm - Link - Report abuse 0
  • Welsh Wizard

    Tobias, we are talking about this because it is breaking news and very interesting, also, it is hard to get exact information out of the govt so we have to share. My country has a huge debt but it will pay it off and currently has the highest investment grade possible and one of the lowest bonds yields in the world. Yes we will have your problems in the mean time but are nothing that can’t be solved

    We ask, some of us, about Argentina as we have family there and the news we get from them is very different from news outside Argentina. For example, my family are strong Cristina supporters and have told me that there really is no inflation in Argentina, Cristina said so.

    We ask so we can get answers so we can discuss and advise and we all admit that every country has problems (mine especially). But the news here isn't about the UK, it is about Argentina and every time someone criticises you guys you respond, not with answers, but with accusations (not always, there are some here who do answer and that is appreciated) and a barrage against other countries.

    So, can you answer please and tell us what is happening and possibly start with the difference between Govt inflation figures and independent. This is not a challenge but a request from a friend as (apart from my mates back home) you guys are the best to get on the lash with as your sense of humour is fantastic.

    Apr 18th, 2012 - 07:48 pm - Link - Report abuse 0
  • Brit Bob


    Yes, we are discussing the story at the top of the page Tobias and the implications of the disasterous policies of the CFK government.

    Apr 18th, 2012 - 07:49 pm - Link - Report abuse 0
  • tobias


    I will leave you with one piece of advice before I go (I have to catch the metro):

    Believe some of the stuff your read from contributors here with the same level of credulity that you utilize to believe Cristina and some of your relatives supporters of her say. Of course it depends on the individual what their credulity threshold is.

    My only advice is just use the same touchstone for both sides and then try to bring both sources to the middle. You will probably be far closer then to the reality of things. Good afternoon.

    Apr 18th, 2012 - 08:06 pm - Link - Report abuse 0
  • Chicureo

    #52 Elaine, Chileans sometimes make reservations at a nice lodge such in Bariloche and “pre-pay” the whole stay, including meals, lift tickets...” to a Dollar or CLP account here owned by a limitada formed by a Chilean lawyer and indirectly owned by the Argentine resort owner. The happy tourist gets a discount and the convenience of local banking with only the propinas paid there. With creative bookkeeping, a lot of money is sheltered. Getting caught smuggling money into bank secretive Uruguay has become a serious problem for Argentines. If to have a lot of income, you can form an Argentine SRL, which is a costly marathon of endless bureaucratic and legal hurdles in order to incorporate and register a new firm. The key is to have a strategy to create a vehicle to divert profits offshore and eventually collapse the empty shell within a 5 to 10 year span. Even with the incredible strict regulations, you just need to have excellent lawyers. Almost all the beautiful vacation homes in Punta del Este are owned by Uruguayan SRLs that in turn are controlled by holding companies in locations like Panama, BVI… The rich in Argentina are really rich, but they have to hide it.

    Apr 18th, 2012 - 08:06 pm - Link - Report abuse 0
  • yankeeboy

    54. Toby, The USA and Argentina were born about the same time but took different paths as you are well aware. It has a lot to do with the type of people who founded both nations. You have been ruled on and off by dictators, claudillos, military and have been know to be a dangerous hot-bed of corruptions for 200+ yrs. The USA on the other hand has become the richest most powerful nation the world has ever known.
    Why compare two nations that are so different, it is irrelevant and boring. We may have problems here and there on and off but nothing like you have in South American. That is why we are considered 1st world and you are considered Emerging after 200 yrs!
    Our poor live much better than your middle class could dream of achieving. Everything is better here you can't name one thing that Argentina has or does better than we do. That is why we have a growing immigrant population, we are one of the few industrialized nations that keeps growing their population every year.
    Your countrymen have tried to take short cut after short cut are extremely lazy, uneducated and less productive every year. You were blessed to live in bountiful land (like the USA) but have squandered every opportunity. You have just been brainwashed into somehow thinking you are A European nation located in South America but RGs are the only ones who think that. The rest of us know the truth.
    I feel sorry for you. You are obviously well educated it is too bad you live where you do and unless you are part of the gov't will be poorer in 10 years than you are now.

    Apr 18th, 2012 - 08:12 pm - Link - Report abuse 0
  • ElaineB

    @59. I have paid for a stay at a luxury estancia near Cordoba through an overseas account. It is the ONLY way they accept payment and I was reluctant but needed to stay there so had no option. I challenged the owner about it over dinner one evening, suggesting that it is tax avoidance that takes money away from investment in schools, infrastructure, health care etc. (To see his reaction). He responded with a caress of my arm and a velvety voice to whisper to me that if they paid tax it would never be spent on improving anything but would go into the pockets of the government. I was slighty taken aback, not by his response so much as the overt flirting as his wife was sitting right opposite me. : )

    A couple of years ago small hotels in Buenos Aires offered 30% discount if you paid cash in dollars. I never did but they were brazen about it with signs at check out.

    You are, of course, right that there are always ways to get money out of the country if you have access to a good lawyer. It is usually the middle-classes that are hit the hardest.

    Apr 18th, 2012 - 08:21 pm - Link - Report abuse 0
  • TipsyThink

    A.Brufau ....Repsol....!

    You (Repsol)have nothing to say anything tell to the world...

    I am very certain you remember the guy who named starts with ..K... letter.. ..don't you ?....don't you ..?...don't you ?

    Only a few people ( plus me ) can know what Repsol have been in intrigues in Argentina since!...since!....since!...the year of 1971...

    You might trick many ignorant naive people ...but me !...never !

    The name who starts with -- K ...letter is enough for you to remind..
    Will you insist on demand compensation ?........I don' t guess !.....


    Apr 18th, 2012 - 08:31 pm - Link - Report abuse 0
  • GreekYoghurt

    @61 Maybe he's a swinger. I can only imagine that most Argies are pretty bored and turn to swinging like people in Devon and Cornwall.

    Apr 18th, 2012 - 08:38 pm - Link - Report abuse 0
  • Chicureo

    #54 Oh you have some good points: I lived through the UP as a teenager and it was civil war. My family nearly lost everything through national expropriation. Both sides committed atrocities and there still lingers strong resentment within our nation. You only have to go to and read about the current mismanagement, political rhetoric and disparity of the rich and poor to realize Chile has a great deal of shameful problems still to resolve.
    Saying that, we’ve had 2 decades of democratic stability and a society with relatively minor corruption. Last time we stole foreign investment was 40 years ago, and the gringos made us pay with terrible consequences. We have a long way to go in improving public health, public education and regional fairness, but we have far surpassed Argentina by better governance and hard work. Bribing a police officer or tax inspector is unheard of in Chile, but sadly the norm in Argentina.

    #61 Elaine, my Argentine friends all complain that their savings as well as tax receipts have been stolen from their own government, so why would they willingly want to pay their taxes?

    Apr 18th, 2012 - 08:44 pm - Link - Report abuse 0
  • TipsyThink

    Keep going Argentina....
    I am backing your strategic step has well timing...

    There are no any more than 100 persons know what is the Repsol in the world.( worse than BP)

    Apr 18th, 2012 - 08:53 pm - Link - Report abuse 0
  • ElaineB

    @63 Maybe. When I was leaving I mentioned I was going to the polo finals in BsAs and he tried to arrange a meet. I did my vague and misundstanding impression and looked at his wife to see her reaction. “Oh”, she said. “I don't have time to go”. Weird. Anyway, I didn't see him at the polo finals, mostly because I ignored his calls, spent most of the time hiding and actually watching the polo whereas most people take up residence in the champagne tent.

    @64 I wanted to hear his reaction. I often put out something controversial and sit back. You often get the most honest information that way.

    Apr 18th, 2012 - 08:57 pm - Link - Report abuse 0
  • zulu99

    Elaine, I'm not at all surprised that a Latino would be acting like that. The infidelity rate is....can a rate be over 100% :)....for Latin American men.

    If you want to stay at a cool place in Cordoba, there's a place called Eco Hostel Arco Iris outside of Villa General Belgrano. Great place with great owners. It's a great alternative to the estancias in the province.

    Apr 18th, 2012 - 08:59 pm - Link - Report abuse 0
  • Chicureo

    #65 What's wrong with BP. Their corporate logo is a green sun or maybe a flower... or something nice. I understand they are very concerned about our planet and developing alternative energy. What on earth would cause you to say anything negative about such a wonderful massive galactic corporation.
    #66 Is that what you mean? I just doubt I'll get the most information from Tipsy...

    Apr 18th, 2012 - 09:07 pm - Link - Report abuse 0
  • GreekYoghurt

    @67 At least it's not as bad as in East Asia where if you have the gall to turn up to a meeting with your wife, they think you're economically bankrupt because you cannot even afford a mistress or a girlfriend. Then after dinner the men all go off to karaoke bars to 'play' with their girl du jour.

    Don't ask any Oriental guy to confirm this activity, they'll all lie through their teeth that the men are faithful and then go off to see their mistresses. The ladies all look the other way.

    Apr 18th, 2012 - 09:08 pm - Link - Report abuse 0
  • ElaineB

    @67 Thanks for the recommendation, it is noted.

    @68 I let people talk and relax, then drop something in at the right time. I am genuinely interested in peoples opinions even if I don't agree with them and asking them to justify their position is often revealing. I have never parted on bad terms with anyone - though I did think 'the wife' might attack me with a steak knife - and keep in touch with most people I meet along the way.

    I found the whole situation highly amusing. People are fascinating.

    Apr 18th, 2012 - 09:31 pm - Link - Report abuse 0
  • briton

    spain will have to FORCE her to pay,
    and she is waiting we hear .

    Apr 18th, 2012 - 10:48 pm - Link - Report abuse 0
  • British_Kirchnerist

    #23 Great article, maybe one for mercopress to publish?

    Apr 18th, 2012 - 11:38 pm - Link - Report abuse 0
  • malen

    to all our critics...........can we know why you travel to Argentina if everything here is so bad??? the people is bad, corrupt, the inflation is bad, men are provocatives, the places are awful, not clean, airports a complex issue, there is nothing you like?????
    why do you insist in coming here????stay at your beautiful homes or arent they beautiful paradises????

    Apr 18th, 2012 - 11:54 pm - Link - Report abuse 0
  • you are not first

    29 ElaineB (#)

    “@26 When I flew out of Buenos Aires less than three weeks ago, all Argentines had to line up and fill out a form listing every item of value in their hand luggage. Laptops, cameras, jewellery, etc. It was somewhat humiliating for them.”

    There different ways to see how people live under humiliations: One is like the UK citizen and all the people who live under a monarchic systems as modern servants, the other is to lean how to live after in a modern world by suffering the aftermath of post and neo colonialism implanted by Old Empires.

    Some people like you, pretends to be polite and friendly to latin-americans, and then show your chauvinism and sense of superiority by posting here shamelessly.
    Every time you visit Argentina look at people faces and compare with the Brits.
    Are the brits happier and satisfied than Argentinians overall. NO.

    Yes Argentina has a terrible government, but this has a cure. “ I feel somewhat sorry for your condition as a eternal servant.”

    Apr 18th, 2012 - 11:55 pm - Link - Report abuse 0
  • Chicureo

    #73 Chileans enjoy your country and relations are generally good I think we are just jealous on how you're squandering your wealth away.
    Chile, despite its problems is business friendly with reasonable taxes and a stable democratic process.
    Let's face reality: your country is about to be eased out of the G20, face lowering of your financial rating that will match Ecuador, and face trade sanctions from the WTO, the EU as well as eventually have to devaluate your Peso.

    Apr 19th, 2012 - 12:50 am - Link - Report abuse 0
  • ElaineB

    @73 My work takes me there. I comment on my experiences, good or bad. If you choose to play the victim and only see the negative that is your outlook, not mine.
    @74 Yes, I have seen the faces of Argentines living in abject poverty and the increasing worry on the faces of the middle-classes. They know what is coming.

    Argentines do know how to have a good time.

    Apr 19th, 2012 - 08:14 am - Link - Report abuse 0
  • reality check

    @74 You obviously do not have the slightest idea of how the British Monarchy works do you. The queen is a figure head, all laws is this country are made by a parliament democraticaly elected by the people, honestly elected. The Monarchy are the servants of the people, not the other way round. The Queen reigns in this country, by the will of the people. If it was the will of the people that we should be a republic, then we would be. That's how democracy works, true democracy, which is what we have.

    Apr 19th, 2012 - 04:15 pm - Link - Report abuse 0
  • briton

    argies not not such a word .

    Apr 19th, 2012 - 07:34 pm - Link - Report abuse 0
  • reality check

    It always amazes me how people outside this country think that we are the servants of the monarchy, that we are some sort of an oppressed people. They just cannot comprehend that the monarchy reigns in this country by the will of the people, that if that will went, the monarchy would go with it. Hardly suprising though, since most of them have only existed as nations, for a fraction of the time we have.

    Apr 19th, 2012 - 08:19 pm - Link - Report abuse 0
  • briton

    if they no like our queen
    thats their loss,
    being a republic, is not all that its cracked up to be,
    most countries envy us, and our queen and all the pagentry, even the Americans love it,

    sadly some backward countries, no not the word [freedom]

    Apr 19th, 2012 - 08:45 pm - Link - Report abuse 0
  • toooldtodieyoung

    I have heard it say that there are countries in this world that only trade with us BECAUSE we have a royal family. I don't know how true it is but I think that having a Royal family sets us apart from other countries. With all of it's history and pomp. I think they are worth the £1.53p of tax they cost everyone.

    “Envy the nation that has a royal family, pity the nation that needs one”

    Apr 21st, 2012 - 07:45 pm - Link - Report abuse 0

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