YPF: Now Spain is committed to “dialogue” with Argentina

April 23, 2012

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Spain took a turn in its speech after the bitter blow that gave the IMF who distanced itself from the issue of YPF nationalization last Friday.

The highest ranking official of the Western Department, Nicolas Eyzaguirre, said the state takeover of 51% stake in YPF was “a sovereign decision” and that, considering it “a bilateral issue,” the Fund stood at margin, being “a multilateral organization”.

Now, the Spanish Foreign Minister, Jose Manuel Garcia-Margallo, requested that the matter is settled in “betting the dialogue amicably,” which marks a clear change in the tone of discourse, and had previously threatened to retaliate strongly against Argentina, appealing to different transnational actors to achieve “international law”.

These key players for Spain were the IMF and the G20. The second was also a bucket of cold water to the Europeans, as the Argentine economy minister, Hernan Lorenzino, avoided the issue would be reflected in the statement of the forum.

In this new scenario, Spanish Foreign Minister said: “We do not dispute the right of Argentina to go for energy sovereignty, but in my opinion is a mistake in the XXI century. What I argue is that they can expropriate without pay to shareholders. “

“Spain is considering all measures that could bring back to Argentina to the negotiating table. It would seek a negotiated settlement, ” he added.