May 4, 2012

Argentina the Outcast

Luiz Lampreia, Project Syndicate

AP Photo

Roughly 20 years ago, an important Argentine minister startled a newly arrived Brazilian ambassador by telling him that 'Argentina is prodigal in three things: meat, wheat, and insane gestures.' The decision to expropriate 51% of YPF, Argentina's biggest energy firm, from the Spanish company Repsol is one of those gestures. Added to its contempt for foreign creditors, and to the growing and arbitrary protectionism that violates all global and regional rules, President Cristina Fernandez de Kirchner's decision pushes Argentina closer to being deemed internationally as a lawless country.

Read Full Article ››

TAGGED: Argentina

RECOMMENDED ARTICLES

May 16, 2012
Demise of Transparency in Argentina
Freedom House
At a rally commemorating the ninth anniversary of the electoral victory of her late husband, former president Néstor Kirchner, President Fernández sang the praises of Argentina’s vibrant democracy and political progress.... more ››
May 13, 2012
Dismal Economics of Resource Nationalism
Fabio Fiallo, The Commentator
Resource nationalism is condemned to join other 'progressive' economic recipes in the dustbin of history. Sadly, for Latin America, many of its people will find out the hard way. more ››
May 12, 2012
Around the World, Energy War Heating Up
Michael Klare, The Nation
Conflict and intrigue over valuable energy supplies have been features of the international landscape for a long time. Major wars over oil have been fought every decade or so since World War I, and smaller engagements have... more ››
May 7, 2012
What's Wrong with Argentina?
Matthew Shaffer, National Review
When President Cristina Fernández de Kirchner initiated the nationalization and expropriation of the Argentine assets of YPF, an oil company owned mostly by Spanish interests, it came as no surprise to anyone who has... more ››
May 4, 2012
Kick Argentina Out of the G-20? Absurd
Jorge Heine, Toronto Star
Argentina's partial renationalization of its oil company, Yacimientos Petroliferos Fiscales (YPF), has triggered a veritable frenzy of anti-Argentine sentiment. Ironically, this has been more pronounced in the British and... more ››