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http://www.guardian.co.uk/world/2012/apr/17/argentina-oil
A woman holds an Argentinian flag at the presidential palace after President Cristina Fernández de Kirchner announced that the oil company YPF would be nationalised. Photograph: Daniel Garcia/AFP/Getty Images
Even as president Cristina Fernández de Kirchner announced on TV her plan to nationalise Spanish-owned YPF, her emissaries were at the oil company's 35-storey Buenos Aires headquarters giving its Spanish directors 15 minutes to leave the building.
Coming two months after King Juan Carlos had personally phoned Fernández to lobby against such a move, the seizure enraged Madrid. "Argentina has just shot itself in the foot in a really bad way," said Spain's foreign minister, José Manuel García-Margallo, warning that the takeover would hamper Argentina's access to international credit and export markets. "The damage to Argentina could be irreparable," he said.
But in Argentina, Fernández's televised announcement that she was sending a bill to Congress to appropriate Repsol's majority stake in YPF was greeted with cheers of "Cris-ti-na! Cris-ti-na!" by her officials in the audience at the Casa Rosada presidential palace. Members of La Campora, the Peronist youth group founded by her son Máximo Kirchner, these young economists are masterminding the nationalist imprint that characterises her second term after a landslide 54% in last year's elections.
The tabloid Crónica headlined its front page "Dame Courage", while a crowd gathered at the Casa Rosada with banners reading "We're going for everything" – a phrase Fernández has used to describe her "national and popular" government's battle against the media and "corporations" that she has in the past accused of plotting her overthrow.
A woman holds an Argentinian flag at the presidential palace after President Cristina Fernández de Kirchner announced that the oil company YPF would be nationalised. Photograph: Daniel Garcia/AFP/Getty Images
Even as president Cristina Fernández de Kirchner announced on TV her plan to nationalise Spanish-owned YPF, her emissaries were at the oil company's 35-storey Buenos Aires headquarters giving its Spanish directors 15 minutes to leave the building.
Coming two months after King Juan Carlos had personally phoned Fernández to lobby against such a move, the seizure enraged Madrid. "Argentina has just shot itself in the foot in a really bad way," said Spain's foreign minister, José Manuel García-Margallo, warning that the takeover would hamper Argentina's access to international credit and export markets. "The damage to Argentina could be irreparable," he said.
But in Argentina, Fernández's televised announcement that she was sending a bill to Congress to appropriate Repsol's majority stake in YPF was greeted with cheers of "Cris-ti-na! Cris-ti-na!" by her officials in the audience at the Casa Rosada presidential palace. Members of La Campora, the Peronist youth group founded by her son Máximo Kirchner, these young economists are masterminding the nationalist imprint that characterises her second term after a landslide 54% in last year's elections.
The tabloid Crónica headlined its front page "Dame Courage", while a crowd gathered at the Casa Rosada with banners reading "We're going for everything" – a phrase Fernández has used to describe her "national and popular" government's battle against the media and "corporations" that she has in the past accused of plotting her overthrow.
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