Argentine President Cristina Fernandez in a massive political rally on Friday defended her policy to seize YPF from Spain’s Repsol, thanked the opposition for their legislative support and called on the new generations to defend the “historic legacy”.
The decision to intervene YPF with the purpose of taking a majority control of Argentina’s largest company which was privatized in 1992 does not mean “a return to the past but rather to recover national control over the leading energy corporation”, said President Cristina Fernandez to the cheers of a packed stadium with over 50.000 people, mostly young followers.
In her 45 minute speech to commemorate the ninth anniversary of the electoral victory of her late husband former president Nestor Kirchner (2003/2007) CFK said that the new YPF management “will demand new ways of participating between the state and the private sector”, but always under “the helm of the state”.
The president also thanked the opposition for their legislative support in the seizure of the oil corporation, following on the overwhelming Thursday vote in the Senate, which is expected to be repeated in the Lower House next week.
“I thank the opposition for their support in the recovery of YPF. This is not the work of a party: it belongs to all Argentines and is for all Argentines”, said CFK addressing the packed stadium.
“Who could imagine that with the majority consensus of the main political forces of the nation we were going to recover YPF?” and continued “thank you to all those who made this possible, this is not the achievement of a party or a grouping, but of all the Argentines”.
After anticipating new forms of association with the private sector in the energy industry, CFK said that the State can never decline the political, economic, social and institutional responsibilities of a country.
The seizure has been condemned by Spain, the EU, World Bank and the global business community that are also demanding a fair compensation for Repsol assets in YPF, currently half their market value given the collapse of the shares in stock exchanges. Spain has anticipated retaliatory measures the first of which was to cancel purchases of bio-fuel from Argentina, a 990 million dollars annual business.
Further on CFK appealed to the mostly young audiences saying that “you are the custodians of this historic legacy, who are never going to allow us give a step back in all that we have achieved”. She added “you are immensely lucky to be living in a full democracy where each of you can say, feel, express and shout whatever you wish”.
Organized by the National Militant Current, all the official Kirchnerite groupings where present with privileged positions in the stadium while the traditional Peronist organization had to take the back seats and the powerful organized labour movement CGT, and its leader Hugo Moyano was simply not invited.
Dressed in mourning black from a podium with the phrase “United and Organized”, CFK was surrounded by all her cabinet ministers, members of Congress, governors and leaders of the Kirchnerite entourage including her son Maximo, who leads probably the strongest of the youth organizations, La Campora.
“Exactly nine years ago this militant and her companion of life were anxiously waiting the results of an election in a country torn to pieces and that was then defining its path. How is it possible even with such a weak take-off, all we have achieved? This is only possible because of the will, conviction and commitment” of all Argentines, said CFK.
It’s the new generations that have to work hard for the future, “they have to take the flags to continue with the ideals of 200 years of history. So that our Malvinas form part of our institutions: it is you that must keep writing your own history, and must do it under the banner of “united and organized”.
Finally CFK said Latin America is going through a historic opportunity to become one of the main regions of the world and sent wishes for a quick recovery to Venezuelan president Hugo Chavez.