Two big news today.
The US, as expected, managed to keep the presidency of the World Bank. Kim was chosen over more qualified and progressive alternatives (José Antonio Ocampo, in particular). See more here.
And Argentina has nationalized the oil company (YPF) that had been privatized during the neoliberal period. By the way, notice that neither Brazil nor Mexico, the other two large countries in Latin America, had privatized their oil companies. See more here.
I had no previous information about Repsol-YPF, so its nationalization took me by surprise.
ReplyDeleteBut judging by all the hysteria it has generated among the usual lackeys and charlatans [1], I have to say Cristina Fernández might have done an excellent thing.
And some people in Spain might agree [2].
[1] Robar. http://www.elmundo.es/blogs/elmundo/guantanamo/2012/04/12/robar.html
[2] Repsol no es España. http://blogs.publico.es/dominiopublico/5101/repsol-no-es-espana/
Thanks for the links Magpie. Yep, I have documented here in the blog the media hysteria about Argentina (mostly FT and The Economist), but also the multilateral organizations (i.e. IMF).
Deletehttp://nakedkeynesianism.blogspot.com/2012/04/economist-and-argentina.html
http://nakedkeynesianism.blogspot.com/2011/09/new-imf-and-argentina.html
http://nakedkeynesianism.blogspot.com/2011/08/more-on-fts-argentinas-propaganda.html
http://nakedkeynesianism.blogspot.com/2011/07/financial-times-thinks-rating-agencies.html
Note that for the establishment, a successful defaulting country, in the middle of the European crisis is a big no no.