German oil company ignores YPF seizure and keeps expanding activities in Argentina

Tuesday, May 22nd 2012 - 03:07 UTC

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Germany's Wintershall, the oil and gas arm of chemicals group BASF, said on Monday it was unperturbed by the enforced nationalisation of Argentine oil company YPF, having just been awarded another oil and gas licence there. Read full article

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Worth repeating here.....:

Argentina’s Critics Get it Wrong…………….. Again

The Argentine government’s decision to re-nationalize its formerly state-owned oil and gas company, YPF, has been greeted with howls of outrage, threats, forecasts of rage and ruin, and a rude bit of name-calling in the international press.

We have heard all this before. When the Argentine government defaulted on its debt at the end of 2001, then devalued its currency a few weeks later, it was all gloom and doom in the media. The devaluation would cause inflation to spin out of control, the country would face balance of payments crises from not being able to borrow, the economy would spiral downward into deeper recession.

Nine years later, Argentina’s real GDP has grown by about 90 percent, the fastest in the hemisphere. Employment is at record levels, and both poverty and extreme poverty have been reduced by two-thirds. Social spending, adjusted for inflation, has nearly tripled
www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/argentinas-critics-get-it-wrong-again

A nice set of Data.....:
www.cepr.net/documents/publications/argentina-success-2011-10.pdf
May 22nd, 2012 - 03:32 am - Link - Report abuse 0
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Alexei
So we can expect Argentina to start paying some of its debts? Some of its creditors are getting increasingly unhappy: http://atfa.org/cgi-data/press/files/58.shtml
May 22nd, 2012 - 06:19 am - Link - Report abuse 0
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cLOHO
You would 'think' if this was the case the normally quite vocal propaganda department of the RG government would be telling people about this??? your one article hardly constitutes a sound case.

If so amazing and vibrant how come inflation is 25% plus and a ban is in place from moving cash reserves out of the country??? doesnt add up does it.

Unable to pay deafaulted loans
Sky high inflation
Ban on movement of money
Raiding of the central bank reserves

must be a new and radical economic model. Maybe the Reichministry could make a propaganda film on the subject.
May 22nd, 2012 - 11:39 am - Link - Report abuse 0
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British_Kirchnerist
So much for the “pariah” “new North Korea” etc =)

#1 Good article
May 22nd, 2012 - 11:44 am - Link - Report abuse 0
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cLOHO
Two minute internet sweep found these reports , dont have all day like you Trolls. And the G20 is thinking of throwing you out!!! no not a pariah state at all, the world loves you jajajajajaja

The black market in curency doesnt sound to healthy does it.

thttp://www.businessweek.com/ap/2012-05/D9URVFKO3.htm

http://www.businessweek.com/ap/2012-05/D9URVFKO3.htm

http://www.businessweek.com/ap/2012-05/D9URVFKO3.htm
May 22nd, 2012 - 11:56 am - Link - Report abuse 0
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Pete Bog
This will please Repsol. Argentina, the world leaders in undivisive diplomacy.
May 22nd, 2012 - 12:58 pm - Link - Report abuse 0
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ChrisR
5 cLOHO

Good links, but did you notice that The Mad Bitch of Argentina said it was not the fault of her policies but the world economies. So there!
May 22nd, 2012 - 01:22 pm - Link - Report abuse 0
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cLOHO
Its never the fault of the RG's, the invasion apparently wasn't them?? it was an evil Junta, that nobody supported, and NOBODY danced in the street until the early hours when the Falklands were invaded. And NOBODY rioted in the street once they had lost, out of humiliation they now roam the world moaning and whining about there lot in the world.
May 22nd, 2012 - 05:55 pm - Link - Report abuse 0
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Malvinero1
Its never the fault of the RG's, the invasion apparently wasn't them?? it was an evil Junta, that nobody supported, and NOBODY danced in the street until the early hours when the Falklands were invaded. And NOBODY rioted
Who cares! uk started all by displacing a peaceful population from Malvinas in 1833...Vomitive brits pirates....
May 22nd, 2012 - 08:11 pm - Link - Report abuse 0
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