Argentina announced on Monday it had accepted the request from the European Union for a round of consultations, before the World Trade Organization, on the country’s controversial trade policies, but at the same time rejected all and every one of the questioned points and dragged the Falklands’ dispute into the fray.
The European Union filed a suit against Argentina's import restrictions with the World Trade Organization (WTO), European Union Trade Commissioner Karel De Gucht announced on Friday.
Bio-fuels expert Christopher Berg and head of F.O. Licht forecasted that Argentina this year will become the largest exporter of bio-diesel to the European Union in spite of the Spanish veto to imports in retaliation for the seizure of YPF.
The European Union cannot amend agreed rules on tighter fiscal discipline despite voters' rejection of austerity policies in several countries, and France's new leader must understand this, Germany's finance minister said.
Europe is at risk of a Japanese-style “Lost Decade” of low economic growth, weak consumer spending, poor company investment and tougher borrowing conditions, the Dutch central bank said on Thursday.
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.
Uruguayan Foreign Minister Luis Almagro backed Argentina’s controversial decision to nationalize the country's biggest oil company YPF arguing countries’ right to recover a strategic market is “indisputable”.
The European Union is planning to lodge a complaint at the World Trade Organization over Argentina's import restrictions and is seeking other trading partners to back its presentation, a source familiar with the situation said on Tuesday according to news agencies.
A member of the European Union assured it is not possible to negotiate an agreement between the EU and Mercosur without Argentina, as the Spanish Government planned after the country’s decision to expropriate YPF.
The European Community strongly supported Spain and oil corporation Repsol saying that the expropriation by Argentina of YPF is “a very negative signal” for investors and could seriously damage the business climate of the country.