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Fitch places Repsol on Rating Watch Negative following the YPF takeover operation
Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF takeover has been set in motion by the Argentine government. Read full article
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Disclaimer & comment rulesNo one can deny that it's hilarious to watch the Argies sink.
Apr 18th, 2012 - 09:41 am - Link - Report abuse 01 GreekYoghurt
Apr 18th, 2012 - 12:03 pm - Link - Report abuse 0Anyone got a deck chair and a pair of opera glasses?
I can hear the sound of boxes being packed and offices being closed by all the big multinational's all across Argentina.
“Will the last person leaving please switch off the lights”
You both are humorous. I feel many of us are enjoying the slow sinking on the Rio Plata.
Apr 18th, 2012 - 12:15 pm - Link - Report abuse 0Fitch, Moodys and S&P will also downgrade Argentina as a country to a probable B- (What Ecuador has already) which will cause some serious shrieking from the Casa Rosada...
Please don't laugh too much, some of us really don't deserve what Mrs. Kirchner has brought us to.
Apr 18th, 2012 - 12:37 pm - Link - Report abuse 04 Simon68
Apr 18th, 2012 - 12:56 pm - Link - Report abuse 0Then FIGHT!! we know you can, anyone can fight for what they believe in. Fight for your country while you still have a country to fight for!!!
Kick this demented ol' Witch out of office and and turn all that Fight you have into making Argentina great again,. Undo all the harm that KFC and her henchmen have done to YOUR country.
It's not hers, she doesn't care about you or your country or what you think, because if she did she would have taken more care. Remember what “V” said ” People should not be afraid of their governments, governments should be afraid of their people.
Come on, time to stand up for honesty and a better relationship with your neighbours. I know the UK would welcome you with open arms if you stopped the mental raving of the he-she KFC.
Good luck, god speed
The U.K
Like vultures, waiting, in a constant state of longing :)
Apr 18th, 2012 - 01:25 pm - Link - Report abuse 05 toooldtodieyoung (#)
Apr 18th, 2012 - 01:41 pm - Link - Report abuse 0Apr 18th, 2012 - 12:56 pm
I have been fighting the good fight against peronism for the last 50 years. Once I thought we had got there with Alfonsin, only to be beaten once again by the power of the peronist unions. The coalition type of government doesn't work here as everyone is taking water for their own garden and to hell with the country.
Patriotism in Argentina has been confused with Nationalism. This is an idea invented and sold by peronism in all its grisly forms. There are very few true Argentine patriots, those that put their country before their own convenience, and very few of them are politicians.
I guess what I'm saying is that fighting this type of corruption is very difficult in this country, as a look at our opposition politicos will prove.
Thanks anyway for the advice, perhaps a younger person will take up the baton.
@5 That was a Thomas Jefferson quote originally, and before that Confucious. I had this conversation in the pub a while ago with someone who pretty much quoted that film from front to back.
Apr 18th, 2012 - 01:46 pm - Link - Report abuse 0@7 you're right I'm as patriotic as it gets, but I'm not in any way nationalistic. The former is positive, the latter is very very negative.
Sorry Simon, I was being disrespectful. I have good friends in Mendoza and San Juan. They are appalled at what’s been going on and have been preparing for certain devaluation for over a year. The Partido Justicialista is just too powerful to defeat and watching Argentine cable news, the majority of our brothers on the other side of the Andes continue to approve of CFK’s decisions. I’m inactive-Chilean naval reserve and one of my friends is retired Argentine navy including serving on the Veinticinco de Mayo. His analysis of your current fleet is heartbreaking.
Apr 18th, 2012 - 02:05 pm - Link - Report abuse 0@6 Good thought! Your next thought ought to be that the “vultures”, in the end, always win. Looking forward to watching the world picking over your bloated corpse!
Apr 18th, 2012 - 02:21 pm - Link - Report abuse 0@9 The best thing about the Argentinian Navy is they actually know what would happen to them if they strayed into FI territorial waters.
Apr 18th, 2012 - 02:26 pm - Link - Report abuse 09 Chicureo (#)
Apr 18th, 2012 - 03:37 pm - Link - Report abuse 0Apr 18th, 2012 - 02:05 pm
Please don't worry about it. As you say the PJ is to BIG to beat, especially since the Kirchners have “nationalized” so many ex-illegal inmigrants to whom thay paid $50 a head to vote in the last elections.
Corruption and nationalism are the things that will bring down our poor country and unfortuately the peronist majority will still be there after the debacle.
¿Qué le vamos hacer?
#3 “I'm not in any way nationalistic”
Apr 18th, 2012 - 03:48 pm - Link - Report abuse 0hmm...
Though I agree about the difference between nationalist and patriot, thats why I consider myself a patriot in believing my country can do better than Cameron's cuts, and don't see it as unpatriotic not to go along with the Thatcher-Cameron nationalist jingoism on the Falklands, or to learn from more progressve foreign leaders like the glorious Cristina =)
I also like the V/Jefferson/Confucius quote, its a good democratic socialist sentiment actually, but you're really not suggesting the Argentine people would be clamoring for more neoliberalism if they weren't “afraid” of Cristina are you? After 2001?! Cristina is responding to what the people want, don't know if that makes her afraid of them though, I think its more like they mutually love each other, and that, though rare, is an even better form of government =) I also think the quote could be equally applied to business/people relations =)
@13 Curious about how your La Campora commenter friends are laughing at UK's debt, and yet you don't like the idea of cutting the massively bloated post not-labour civil service. What's your chosen method of paying the interest through your communist goggles? Arg-default?
Apr 18th, 2012 - 03:56 pm - Link - Report abuse 0Argies aren't scared of KFC, they're scared of what KFC will do next... and of Maximo's Campora Black Shirts.
Be afraid, really afraid. There are three agencies that will cause Argentina severe financial pain.
Apr 18th, 2012 - 06:41 pm - Link - Report abuse 0http://www.datosmacro.com/en/ratings
Pay attention as Argentina's ratings will drop even lower. Within a week to 10 days is the current thinking.
#14 In a word, investment. The cuts aren't working, as predicted they're just messing the economy up all the more. Real state investment, doing all the things that should have been done for years anyway like insulating old people's homes (its a national disgrace how many still freeze to death every winter), would create jobs, take people off benefits and get them spending to revive the private sector too. Then there are efficiencies that can be made, but I'm not sure if you'd agree with them, saving £75 billion on Trident and stopping literally burning money, and people, in Afghanistan being the main ones I can think of
Apr 18th, 2012 - 08:53 pm - Link - Report abuse 0As predicted, everything the Botox Queen touches turns to dust.
Apr 18th, 2012 - 09:08 pm - Link - Report abuse 0@16 Urm, I'm sorry but that's not investment. That's Keynesian nonsense from Gordon Brown's book on how to wreck an economy. I'm not taking away the need to insulate old people's homes, as this is something that is ultimately independent of political belief. However, your suggestion that we should do this just to create jobs... is utter nonsense, and just fuelling subsidised existence. That's precisely the reason why new labour isn't going to get into government ever again, and that's precisely why argentina has problems at the minute. Speak to any entrepreneur in the UK and they say they cannot get people to work in the private sector because labour made the civil service jobs too well paid. I can think of a specific example in Wales.
Apr 18th, 2012 - 09:42 pm - Link - Report abuse 0The private sector in any country is typically the only thing that generates taxable revenues into which the civil service can dip their lazy little pie fingers. Getting people off welfare into private sector jobs is what we should be doing, and to do that you need focused investment and growth in specific industries.
Finally, you don't really like the British way of life, I understand that. You want to live in Argentina where your corrupt lady can rob you happily of all your money. However, your thinly veiled pacifism doesn't really work in the real world where some people don't like anything your way of living, and want to see an end to it. I'd like to here your idea of a defence strategy against such people, and against rogue states like Argentina who want to invade territories under British protection. I guess it involves giving them flowers.
Some people simply don't get life.
I'm not a pacifist actually, I think practically we need an army to defend us for precisely the reasons you mentioned, as most countries have. But ours is not like most countries, while not big by US standards its still massive and since Blair (I think we share a dislike of him, if for different reasons!) has been used by the political class for a series of foreign invasions that as well as being immoral have made us less safe (by increasing hatred for us around the world). Some “defence” that! Also nukes are no defence against modern threats like terrorism, who'd we have nuked to “deter” 9/11, an attack on the USA by an al-Qaeda cell based...in the USA! And if we ever did use Trident against a nuclear state, the response would destroy Britain, and whatever you may think of my patriotism I certainly don't want that! While a more general nuclear war would destroy the world - great “defence” that would be!
Apr 19th, 2012 - 10:45 am - Link - Report abuse 0@19 The UK only has nuclear weapons as a deterent. Some would say that since the end of the cold war, we no longer need them. Unfortunately with more and more unstable regimes striving to obtain them, I don't think we will ever be able to put the Genie back in the bottle.
Apr 19th, 2012 - 03:58 pm - Link - Report abuse 0Commenting for this story is now closed.
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