MercoPress. South Atlantic News Agency

YPF seizure approved by 62% of Argentines, according to opinion poll

Buenos Aires Mayor Macri is against nationalization even when 49% of the city residents support it

The recent decision by President Cristina Fernandez to seize a majority stake in YPF from Spain’s Repsol has the approval of 62% of Argentines, while 23% disagree according to a public opinion poll from Poliarquía published in the Sunday edition of La Nacion.

The poll shows that 26% in the capital Buenos Aires and in different cities of the country are “very much in agreement” with the decision and 36% are in agreement.

The decision has soured long established relations between Argentina and Spain that has promised reprisals, and demands full compensation if the decision is not reviewed.

Another 23% said they were ‘in disagreement’ with nationalization, and 8% rejected point blank the decision.

Asked about the possible impacts on the Argentine economy, 49% said the decision was positive and 47% admitted to fears that it would affect negatively the image of Argentina overseas.

The poll also showed that 49% of residents from the capital Buenos Aires support the nationalization, even when the mayor of the city and the main opponent of Cristina Fernandez, Mauricio Macri rejected the seizure and warned that the lawmakers from his party would vote against the initiative in Congress.

In the rest of the country the decision had the support of 66% of interviews, where four out of ten said they were “very much in agreement”.

The poll included 1.115 phone interviews with over 18 years of age and in the forty main cities of Argentina.

Last Monday the government of Cristina Fernandez announced the seizure of a majority stake in YPF from Spain’s Repsol, arguing the company was not investing enough in Argentina.

Spain announced reprisals, the first of which was to cancel all bio-diesel imports, (of which Argentina is the leading exporter in the world) plus intense lobbying in multilateral organizations to freeze all loans and grants to Argentina.