Wednesday, April 18, 2012

EU silence on Argentina's seizure of an EU energy Company!

EurActiv which is supported by and reports upon events of the European Union, seeks to imply that a protest has been lodged against Argentina in an article titled "EU outraged as Spain's Repsol ousted from Argentina". It is linked here.

On reading the article it may be quickly seen no such outrage has been expressed. Indeed from the second paragraph of the exact quote from below, it can be noted that the Commission response quoted is from 13th April, before the announcement of the expropriation!

Spain vowed "clear and strong" measures over what it called a hostile decision, while the EU executive warned that an expropriation would send a very negative signal to investors.
Commission to send team to Buenos Aires
Speaking to the press on 13 April, Commission spokesperson Olivier Bailly said the the EU executive sided with Spain in the dispute. A Commission team will visit Argentina on 19-20 April to discuss the issue with the country's authorities.

The deliberate disregard for the truth in all areas of the EU involvement can therefore now be seen to extend to hugely sensitive foreign and diplomatic matters, where a grotesque and expensive army of EU officials under Baroness Acton, serve only to render the EU a global laughing stock and political football for tin pot South American failed states of even lower economic stature than the EU itself.

Spain can ill afford such an economic blow at this juncture. Having handed its governance to Brussels it has rendered itself powerless to even properly protest, a harsh lesson on the real world for the rest of Europe!

UPDATE 0820 BST Read background to the seizure from Acting Man linked here.

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Blogger Robert said...

I heard Baroness Ashton on the Today programme talking about it today.

Argentina has massive reserves of shale gas which I think Respol was slowly developing.

No one should ever trust the Argies.

If you have not already found it, the No Hot Air blog is quite good on shale gas developments. Shale gas also contains oil in some cases.

9:42 AM  
Blogger Martin said...


Thanks for the link!

11:46 AM  

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