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World Bank and France criticize Argentina’s “mistake” and international law breach

Thursday, April 19th 2012 - 19:38 UTC
Full article 56 comments
Zoellick warns countries under economic pressure are responding with populism and protectionism Zoellick warns countries under economic pressure are responding with populism and protectionism

Argentina's move to nationalize local oil company YPF, controlled by Spain's Repsol, was strongly criticized by the World Bank president Robert Zoellick and French Foreign Minister Alain Juppé.

“It is mistake and the wrong thing to do” Zoellick told a news conference on Thursday at the opening of World Bank and International Monetary Fund meetings of Finance chiefs in Washington.

“I think it is a symptom we have to watch out for under economic pressure whether countries will move ... respond more to populism, respond more to protectionism,” he said.

“I think it was the wrong thing to do,” the World Bank head added.

Meanwhille from Paris Foreign Minister Juppé reiterated the European block position and joined the region’s outcry against what European officials have been considering a gross “breach of the international law.”

“Like in all matters, the international frame of law should be respected. You cannot expropriate without a previous and proper compensation,” the official pointed out.

The Foreign Minster also offered some comradeship towards the Spanish government by saying “France’s understands our partner Spain concerns and call for European solidarity”.

Top Comments

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  • GreekYoghurt

    ... and then TOTAL goes sniffing for the ex-YPF deals and France sells them shiny new exocets via Brazil.

    Consistency please.

    Apr 19th, 2012 - 07:45 pm 0
  • reality check

    GY. Come on, we are talking about France here. France only cares about one thing, France.

    Apr 19th, 2012 - 07:51 pm 0
  • tobias


    I have asked this question before, never gotten an answer:

    The Brits always make statements like “country X only cares about itself”.

    Give me examples of the UK doing things for others out of the goodness of their hearts. Thank you.

    Rule 1: Talking about WWII is not permitted.
    (That was not a service to the world, it was a war of survival for Britain, so it doesn't count.)
    Rule 2: If you want to talk about WWII, see rule 1.

    Apr 19th, 2012 - 07:55 pm 0
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