Christian Tym

Argentine President Cristina Kirchner announced the nationalisation of Federal Petroleum Deposits (YPF), the country's largest oil extractor and refiner, on April 16.

Altogether, 51% of Spanish oil multinational Repsol's 57% stake in YPF has been claimed by the Argentine government.

The move shook the markets, with YPF shares falling 30% on the New York stock exchange.

The nationalisation has drawn condemnation from Spain, the European Union and the United States ― as well as US regional allies Chile, Colombia and Mexico. In contrast, it was applauded by Venezuela and Bolivia.

Bolivian President Evo Morales proposed enshrining the Rights of Mother Earth in international law to the United Nations General Assembly on April 23.

The proposal follows the Law on the Rights of Mother Earth that was enacted in Bolivia in January.

The “short” law enacted is a set of principles. A more detailed version is expected later this year.

The law commits the government to steadily integrate renewable energy sources in order to achieve national energy independence.

Two million Spanish workers participated in a public sector strike on June 8. A general strike in the Basque country has been called for June 29. Spanish unions have called a nationwide general strike for September 29 and the European Trade Union Confederation is currently attempting to organise a Europe-wide general strike to coincide with it.

Resistance is building in Europe against government attempts to force ordinary people to bailout the failed financial system of “casino” capitalism.

After four general strikes in Greece this year, and two more planned, strike action is beginning in Spain against planned attacks on public services and welfare.

Many people still speak sincerely about the existence of “corporate responsibility”. While doing volunteer work in the Ecuadorian community of Junin, I got a different picture.


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