[QODLink]
Counting the Cost
Argentina's president vs capitalism
Counting the Cost finds out how an audacious move to nationalise Argentina's oil company has triggered a diplomatic row.
Last Modified: 27 Apr 2012 16:01

Cristina Fernandez de Kirchner, Argentina's president, has been vying with Hugo Chavez of Venezuela to nationalise businesses.
 
Fernandez nationalised private pension funds and Aerolineas Argentionas, the country's flagship airline.
 
But nothing has ruffled feathers more than the audacious move on the country's oil company YPF. The problem is that it was owned by Spanish oil giant Repsol and a diplomatic row has ensued.
 
Argentina accuses Repsol of driving down production at YPF and taking 90 per cent of the company's profits.
 
But could this drama have a lot more to do with Fernandez falling out with Argentina's billionaire Eskenazi family?  Through the family's Peterson Group it owns 25 per cent of YPF.

Nestor Kirchner, Fernandez's late husband, helped the Eskenazis buy the stake - although it was Repsol that loaned the money.
 
Plus, the International Monetary Fund (IMF) put out its latest estimates on global growth. It is predicting 3.5 per cent growth, slightly higher than before. And a mild recession for the eurozone. But it warns the recovery is fragile.

John Terrett talks to Olivier Blanchard, the IMF's chief economist.
 
And finally, two-years after the deadly explosion on BP's Deepwater Horizon rig in the Gulf of Mexico, fishermen and scientists say things are getting worse. Al Jazeera's Dahr Jamail has been back to the region to find out more.

 

Counting the Cost can be seen each week at the following times GMT: Friday: 2230; Saturday: 0930; Sunday: 0330; Monday: 1630.

Click here for more on Counting the Cost.

Source:
Al Jazeera
Topics in this article
People
Country
Organisation
Featured on Al Jazeera
'Justice for All' demonstrations swell across the US over the deaths of African Americans in police encounters.
Six former Guantanamo detainees are now free in Uruguay with some hailing the decision to grant them asylum.
Disproportionately high number of Aboriginal people in prison highlights inequality and marginalisation, critics say.
Nearly half of Canadians have suffered inappropriate advances on the job - and the political arena is no exception.
Featured
Women's rights activists are demanding change after Hanna Lalango, 16, was gang-raped on a bus and left for dead.
Buried in Sweden's northern forest, Sorsele has welcomed many unaccompanied kids who help stabilise a town exodus.
A look at the changing face of North Korea, three years after the death of 'Dear Leader'.
While some fear a Muslim backlash after café killings, solidarity instead appears to be the order of the day.
Victims spared by the deadly disease are reporting blindness and other unexpected post-Ebola health issues.