Saturday, 14 April 2012

'Argentina runs the risk of becoming an ‘international pariah” warns Spain

'Escalating tensions, Spanish Foreign Minister Jose Manuel Garcia-Margallo summoned Argentine Ambassador Carlo Antonio Bettini to convey Spain's “concern” over possible nationalization of YPF, which represents 42% of Repsol's total reserves, estimated at 2.1 billion barrels of crude.

“Breaking the rules comes with a cost, and Argentina could turn itself into an international pariah,” said Iñigo Mendez de Vigo, Spain's Secretary of State for European Affairs, in an interview aired on the Onda Cero radio network.

Garcia-Margallo said after the hour-long meeting with Bettini that he hopes dialogue can resolve matters, but that any “attack” on Repsol would be considered “an assault on the Spanish government.”'

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