Argentina

• Tuesday, May 8th 2012 - 06:21 UTC

  Banks will wait for YPF to name new board of directors before taking action

  

  The banks that helped Argentina's Petersen Group buy a stake in energy company YPF will give the group extra time to make a loan payment due this month, according to sources involved in the negotiations.

• Tuesday, May 8th 2012 - 02:39 UTC

  Olympic/Malvinas ad: “creativity can’t be censored, it must be applauded”, says CFK

  

  President Cristina Fernández said in relation to the controversial Olympic/Malvinas advert that “creativity can’t be censored”, on the contrary it should be “applauded” because it reflects the feelings of the Argentines. The head of state also rejected lifting the spot as demanded by Britain and the Y&R agency in New York.

• Tuesday, May 8th 2012 - 02:06 UTC

  Mercosur “needs to be reborn” with an honest integration spirit, says Cardoso

  

  Brazilian former president Fernando Henrique Cardoso said that Mercosur “needs to be reborn but with a real integration spirit among its members” leaving behind such ambitions as the mirror of the European Union.

• Tuesday, May 8th 2012 - 01:58 UTC

  Respsol warns its peers with legal actions if they team up with nationalized YPF

  

  Spain-based energy group Repsol has sent letters to oil majors including Exxon-Mobil, Chevron and Conoco-Phillips warning it would sue them if they try to invest in YPF or its assets, reports the British newspaper The Financial Times.

• Monday, May 7th 2012 - 17:33 UTC

  Argentina takes official control of YPF; Rajoy asks: who can trust that country?

  

  The Argentine decision to seize control of 51% of YPF oil and gas giant came into effect on Monday as a decree was published on the Official Gazette. From Spain a new barrage of criticisms in support of Repsol and condemning Argentina started the week.

• Monday, May 7th 2012 - 17:28 UTC

  EU ready to cut trade benefits to Argentina because of YPF; warns the region on growing protectionism

  

  European Trade Commissioner Karel de Gucht expressed concern Monday over what he called a “growing tendency towards protectionism across Latin America” and warned Europe is preparing retaliation measures against Argentina after YPF expropriation

• Monday, May 7th 2012 - 07:21 UTC

  Malvinas spot could ruin Argentine Olympic team spirit, warns athletes’ delegate

  

  The controversial Malvinas/Olympics advert promoted by the Argentine government ahead of the London Games not only has had negative reactions worldwide but has also triggered deep concern among members of the Argentine Olympic team.

• Monday, May 7th 2012 - 07:02 UTC

  Malvinas/Olympics advert athlete now admits he was aware the filming was for the Argentine government

  

  Argentine athlete Fernando Zylberberg involved in the controversial Malvinas/Olympics advert which is being aired by the Argentine government, contrary to his original statements, has admitted he knew the spot filmed in the Falkland Islands would be used by the government.

• Monday, May 7th 2012 - 04:11 UTC

  Timerman tells Hammond world is safer with creativity than “bombing civilians”

  

  Argentine Foreign Minister Héctor Timerman replied to recent demands of an apology made by UK Defence Minister Phillip Hammond over a controversial Olympic advert shot in the Falkland Islands, and urged London to “honour the deaths of those who died in the 1982 conflict by constructing peace.”

• Monday, May 7th 2012 - 04:02 UTC

  Y&R says the controversial (Malvinas/Olympics) advert “belongs to the client”

  

  The creative managing director of Young & Rubicam Buenos Aires said that is spite of the request from the central office in New York it can’t force the Argentine government to withdraw the controversial advert linking the Falklands/Malvinas claim with the coming Olympic Games in London.