Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-18-Speech-3-453-000"
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"en.20120418.23.3-453-000"2
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".
Mr President, on behalf of the European Commission, I would like to thank you for organising this debate so expeditiously.
Since the Treaty of Lisbon entered into force, foreign direct investments, and particularly the protection of those investments, falls within the EU’s exclusive competence, which means that the EU has both the right and the responsibility to act in defence of the European Union’s investments.
The question of the nationalisation of Repsol’s share of YPF gives cause for serious concern. We need to analyse this measure in the context of a series of protectionist measures taken by the Argentine Government in recent months, such as the wide-ranging measures to make import licences non-automatic.
We have already raised the issue of those protectionist measures with the World Trade Organisation, along with more than a dozen other countries. We are now examining the additional action we need to take against those protectionist measures, including the option of the mechanism for resolving trade disputes.
I have listened carefully to all your arguments and concerns. I can assure you that the Commission will make a thorough analysis of the situation and will vigorously remind Argentina of its obligations under international law, considering all the resources available to that end."@en1
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