After a weekend of cavorting in Colombia, the White House was caught flat-footed by Argentina’s takeover of a big oil company whose loss will hike gas prices, harm Spain and slam U.S. investors. Lucky us.Well, everybody else seems to be complaining. Time for an Argentina reset?
Never was a response to a global outrage more mealy-mouthed than the one from the U.S. after Argentina’s President Cristina Fernandez de Kirchner, standing under a portrait of Evita Peron, announced a brazen grab for YPF, the Argentine oil company that’s 57% owned by Spain’s Repsol.
Markets fell, world leaders denounced the violation of contracts and economically battered Spain rallied European Union support.
But the U.S.? “We are following developments on this issue. We are not currently aware of any WTO complaints related to this issue,” the State Department said.
Wednesday, April 18, 2012
Another example of "smart diplomacy" in action: