Tuesday, November 20, 2012

Argentina and Spain met after the expropriation of the 51% of YPF

Spain, November 17, 2012

Today, the Foreign Minister Héctor Timerman met with his Spanish

counterpart Jose Manuel Garcia-Margallo in Cadiz. This is the first official meeting since the conflict triggered by the nationalization of 51% of YPF. The meeting took place in the framework of the Summit of Cadiz.

For his part, the president was absent from the summit due to health problems, so Argentina was represented by Vice President Amado Boudou and the foreign minister.

Last week Garcia-Margallo said that “there is room” to find a “negotiated solution” to the conflict.

On the other hand, he said “we do not dispute the right of Argentina to nationalize a strategic sector”. However considered that “it must be done through a regulated procedure and paying a fair price.”

It may be recalled that the government of Mariano Rajoy waits for a resolution of the Investment Committee of the OECD which is stipulated for December. The case is also being tried in the World Trade Organization (WTO) and the World Bank agency called the International Centre for Settlement of Investment Disputes (ICSID).

Source: m24digital

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