Argentine President Cristina Fernández enacted the YPF nationalization law, which was approved by the Lower House on Thursday. During a nation-wide televised speech from Government House, the Head of State also introduced the company’s new CEO, oil engineer Miguel Galuccio.
President Cristina Fernández said that YPF will be a “great challenge for Argentina” since it will have to turn into a modern competitive oil company in line with the interests of the country.
A movement has resurfaced in Argentina with the idea of promoting the perpetuation of President Cristina Fernandez in power through a constitutional reform, an initiative launched before but which at that time was downplayed by the re-elected president.
Argentine President Cristina Fernández vindicated her decision to expropriate YPF, assuring that her Government “remains convinced that all Argentines should be in control of the country’s natural resources.”
Amidst the cross-fire between the Argentine government and Repsol-YPF oil giant, Spain’s Industry, Energy and Tourism Minister José Manuel Soria, warned on Thursday that “any sign of hostility” against Spanish companies “will be considered as a hostile sign against Spain and its government, and will bring consequences.”
Shares in Argentina's biggest energy company YPF plunged 5.6% in Buenos Aires on Wednesday while the company's US-listed shares were 5% lower in New York.
Argentine president Cristina Fernandez will be attending on Saturday the VI Americas summit to be held in Colombia, which is already involved in a strong controversy because of the non invitation to Cuba.
President Cristina Fernandez has sent a letter to the Red Cross asking the international organization to intercede before the UK so that the remains of Argentine and British soldiers in the Falkland Islands which are still unknown, 30 years after the beginning of the Malvinas war can be identified.
Argentine president Cristina Fernandez will lead on Monday the main ceremony commemorating the 30th anniversary of the beginning of the Malvinas war or South Atlantic conflict, when Argentine troops invaded the Falklands and held them for 74 days until ousted by a British Task Force.
By Jimmy Burns - ‘La Presidenta’ relishes a battle – not least with the old enemy over the future of the Falklands. But is she losing her grip at home in Argentina?