Brussels, 18/04/2012 (Agence Europe) - The European Commission and the Danish Presidency of the EU Council of Ministers spoke out on Wednesday 18 April in criticism of Argentina for not adhering to its commitments in bilateral investment treaties. Argentine President Cristina Kircher presented plans on Monday to expropriate Argentinean subsidiary YPF from its Spanish parent, oil firm Repsol.
“The intentions of the Argentinean government are unacceptable and will be damaging to the attractiveness of investing in Argentina”, Nicolai Wammen, speaking for the Danish Presidency, told the European Parliament on Wednesday. “We understand the attitude of the Spanish government in this affair. President Kirchner's announcement is a threat to economic activity in Argentina and to the international investment environment”, he went on, slamming a decision which follows on from “a series of international trade decisions recently taken by Argentina”. As well as postponing a meeting of the EU-Argentina joint committee scheduled for 19-20 April, Industry Commissioner Antonio Tajani announced that the visit by his Directorate General devoted to industrial cooperation, due to take place next week, had been cancelled. (EH/transl.rt)