Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-18-Speech-3-441-000"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| lpv:document identification number |
"en.20120418.23.3-441-000"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
"Mr President, on Monday, the Argentine Government announced that it intends to expropriate the majority share held by a Spanish company in the YPF energy company. This Parliament is right to raise this important issue as a matter of urgency.
Before going any further, let me stress that the matter has not yet been discussed in the Council. However, the Danish Presidency – and I expect this will also be the position of the Council once we have had the opportunity to discuss the matter in the Foreign Affairs Council next Monday – shares those concerns and regards the intentions of the Argentine Government as unacceptable and damaging. This is the case with regard both to the continuing attractiveness of investing in Argentina and to the wider business environment.
I would therefore like to make it crystal clear that we fully understand the particular concerns, in this case of the Spanish Government, and that the Danish Presidency strongly supports Spain in this matter. I have also noted that both the President of the Commission and the High Representative have expressed similar concerns. The recent announcement by President Kirchner threatens to undermine the confidence of the international business community and the security of its investments in the country. It is likely to discourage further investment and therefore risk damaging the future development of the Argentine economy. As such, it is a profoundly misguided measure and one which will come to be seen as contrary to Argentina’s interests.
The most recent announcement concerning YPF is only the latest in a number of decisions taken by Argentina in the areas of import restriction and investment policy. We have followed these announcements with growing concern. Such unilateral measures are not helpful to a flourishing business environment, and they risk creating wider difficulties in the relationship between the EU and Argentina.
More generally, the business community within the EU needs security if it is to continue to invest internationally. Insecurity is bad for business, for growth and for job creation. Ultimately, that creates problems for those countries which depend on inward investment. Legal certainty is essential in our globalised economic environment. It means being sure that third countries comply with their international commitments, including in the areas of the treatment and protection of inward investments.
In response to the announcement by the Argentine President, a decision was taken, as announced by the High Representative yesterday, to postpone the meeting of the Joint Cooperation Committee with Argentina, which was due to take place this Friday. The EU has also formally expressed its concerns on this matter to its delegation in Buenos Aires, and the issue is due to be raised at next Monday’s meeting of the Foreign Affairs Council. We will need to look closely at what next steps might need to be taken. In doing so, we will take full account of the outcome of this debate and will, of course, keep Parliament fully informed of further developments."@en1
|
| lpv:unclassifiedMetadata | |
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples