Spain says Argentina could hinder Mercosur deal
MADRID (AP) — Spain has issued a fresh warning to Argentina that it could jeopardize free-trade talks with the European Union if it insists on interfering with foreign investments — such as its recent seizure of the local division of Spanish energy company Repsol YPF SA.
Spanish Foreign Minister Jose Manuel Garcia-Margallo said the EU is considering whether to progress with preferential agreements with Mercosur — the trade bloc made up of Argentina, Uruguay, Brazil and Paraguay — "if Argentina does not respect the rules."
Garcia-Margallo said Friday the Argentine government of President Cristina Fernandez had "chosen isolation," adding that Argentina had 50 cases pending at the International Center for Settlement of Investment Disputes.
Stripping Argentina of benefits would affect bilateral deals with other Mercosur members.
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