http://online.wsj.com/article/SB10001424052702303425504577356262654410468.html
Oil giant Repsol will surely sue Argentina...and win...over the recent nationalization of the Spanish company's estimated $10.5 billion of YPF assets...right?
Maybe not...looking over B.Aires's track record in court.
Argentina is still involved in 25 of 147 pending cases before the World Bank's ICSID arbitration court.
Though B.Aires says it has paid $15 billion in claims...Repsol will join a long line of impatient plaintiffs.
And even if Repsol wins over YPF's value...President Cristina may not pay-up.
Latin America is showing greater reluctance to accept the ICSID's authority.
Ecuador and Bolivia have withdrawn from it...and Venezuela has also proposed to do so.
Can Argentina be far behind?
NEW!!! President Cristina Kirchner's logic behind the takeover.
Some blame her new Deputy EconMin Axel Keillor for the plan.
Already a financial rogue...Argentina may now become a 'global pariah'.
A cash grab was a reason for the expropriation.
But B.Aires hamstrung Repsol explorations by capping oil...at $55 bbl....with the world price at $100.
http://www.google.com/hostednews/ap/article/ALeqM5hwMtKcjwhAQTZVR26-P6EdktKfUA?docId=9bc841966ded4263aa8380f9510899ef
Popular Posts
- KYRGYSTAN / CANADA : 3 MPs Arrested After Violent Gold Mine Protest.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- EU / SPAIN / PORTUGAL / ITALY / GREECE : Solidarity Strike Causes Travel Misery Across the Eurozone; Clashes/Arrests/Injuries In Athens, Madrid.
- HUNGARY: 23 April UPDATE: Hungary Denies Threat To Roma After Red Cross Evacuates 277 Roma From Gyongyospata...Fearing Vigilantes.
- ITALY : Oh, No! Silvio's Spectre Returns.
- PERU: Voters Feel Like They Must Choose Between...Hitler And Darth Vader; Smears Increase Before Vote.
- AUSTIN,TEXAS: Lance Armstrong Still Under Seige For Doping Charges.
- RUSSIA / CHECHNYA : VIDEO/ FOTOS: 40 Story Grozny Skyscraper Burns.
- UKRAINE : 04 Dec UPDATE: Kyiv Girl Wins Junior Eurovision Contest; 4 Nations Will Skip Eurovision 2013.
- BRASIL: Documentary About Rio Garbage Dump... Up For Oscar.