Debate continues with another marathon day of meetings in the Chamber of Deputies over the nationalisation of YPF. The bill will provide for the recovery of state control of YPF and is slated to be signed into law tonight, settling the contentious issue.
The session, which began yesterday at 3.30 pm and closed at midnight, resumed this morning at 10 am.
Before coming to vote, members of the Chamber of Deputies will listen to speeches from 10 am to 6 pm. The bill has already been endorsed by the Senate where the measure secured 63 votes in favour, 3 against and 4 abstentions.
Out of the 257 members of the House, the bill is predicted to raise between 210 and 215 votes.
Consensus is not unanimous on the issue. Radical deputy Hipólito Faustinelli said this morning that the official project to expropriate the shares is “unconstitutional” and predicted he will retire from the room at the time of the vote.
According to preliminary assessments carried out by different parties, the negative votes are to be between 34 and 38, abstentions at 4 to 6, and absences from 4 to 10.
Should the bill be passed, it will allow for the expropriation of 51% of the shares of YPF by the state, granting the Argentine government a majority share of the company.
Despite the apparent finality of the vote, debate may continue with disputes over share price in the take-over of Repsol’s stake. Spanish Foreign Minister, Jose Manuel Garcia Margallo is urging Argentina to pay a ‘fair price’ for their actions.
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