Spain slams Argentina for move to seize oil firm

It’s straight from the pages of Atlas Shrugged. While ecomonic power houses move increasinlgly toward economic authoritarianism and poverty weaker nations resort to stealing capital, if not exactly the company, from foreign owners.

SPAIN rounded on Argentina’s move to seize control of oil giant YPF yesterday, threatening swift economic retribution for the nationalisation plan.

Argentinian President Cristina Fernandez de Kirchner on Monday tabled legislation to reclaim YPF, which Repsol has said is worth $18bn as a whole.

One Comment

  1. There were (some years ago) very strong efforts to break Argentina out of its political trap – but tragically it remains in the trap.

    Politics is dominated by the “contest” between Fascism (Peronism) and various forms of Marxism.

    Presently the Fascists (Peronists) are in power – and are doing things one should expect Fascists to do, sending people to prison for telling the truth about inflation (sorry “monetary stimulus”) stealing private companies, and so on.

    “But Paul – Argentina is a democracy”.

    And that in no way means it is not Fascist.

    Sadly Fasists can be democratically elected – and in Argentinian history they repeatedly have been.

    And the military?

    Sadly the military are as worm eaten by collectivist (Fascist) ideology as the rest of Argentinian society. As they showed when they were in power.

    For all his TERRIBLE faults Pinochet in Chile was NOT a Fascist (indeed the economic opinions he was gradually won over to were radically different from Fascism), but an Argentinian Pinochet would not be possible.

    Military rule in Argentinian proved to be just as Fascist as civilian rule – just more brutal (far more brutal).



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