Nationalization, the big picture

Resumen

Resumen bibliográfico: On April 16, 2012, Argentina’s president Cristina Fernández dramatically announced that 51% of the oil company YPF was to be re-nationalized (the former state company, founded in 1922, had been privatized between 1991 and 1993). Specifically, the government targeted the stake held by the Spanish multinational Repsol. The Spanish Foreign Ministry reported unsavory incidents of threats and intimidation as Argentine officials and security agents expelled Spanish executives and occupied YPF’s headquarters in Buenos Aires (Johnson).