Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-18-Speech-3-447-000"

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"en.20120418.23.3-447-000"2
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"Mr President, there are three basic reasons why I wish to express our total disagreement with the expropriation that has affected European shareholders in the YPF company in Argentina. It is a violation of international law; it is a decision weighed down by misunderstood, ineffective protectionism in order to boost development; and finally, it causes major legal uncertainty for all the European operators who are investing and collaborating in the development of Argentina. The S&D Group also wishes to express its concern over the process that has led to this expropriation and the campaign suffered by YPF to artificially devalue its stock exchange value and attempt to justify and reduce the costs of this operation. We are also worried about the repercussions that this decision will have in Europe for companies that have business relations with Repsol. Finally, we are profoundly concerned about what the future might hold for other European companies based in strategic sectors in Argentina. For these reasons, the Group of the Alliance of Liberals and Democrats for Europe would like the Argentine authorities to reconsider their decision. This resolution therefore rejects and vigorously condemns what has taken place. Furthermore, it calls for all available resources to be mobilised in order to defend EU interests, and calls for talks to begin once again. I hope this will happen for the good of the Union, the Argentine people, and for the credibility and international prestige of Argentina. That is what I wish for, so that this decision does not hamper the trade agreement negotiations under way between our Union and Mercosur, which are vital to both parties. I therefore hope that the European authorities will exhaust all the diplomatic and economic options available to them, so as to encourage a change of attitude and reach a mutual solution together."@en1
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