Macri blasts Nat'l gov't for YPF 'confiscation', Subte handover

Buenos Aires City Mayor Mauricio Macri lashed out at Cristina Fernández de Kirchner administration today for the expropriation of YPF shares and the controversial Subte system handover.

Macri spoke during a press conference held at Buenos Aires City neighbourhood of Recoleta, where he accused the Kirchner’s administration of trying to “bring down the city” and called the YPF nationalization process a “confiscation.”

“This is the least federal government I have ever seen,” he indicated. “CFK wants to sink the city of Buenos Aires,” Macri lashed out.

The business tycoon also reiterated his wish to meet the President face to face. “We expect that at some point she will react and call us for a joint gathering,” Macri stated.

“We have a huge agenda to address and we want to work together,” Macri stressed.

And added: “We might think differently, but that doesn’t mean we have to be enemies.”

While stressing the positive Brazilian and Chilean experience on the oil producing sector, Macri called the expropriation of YPF's 51 percent stake owned by Spain-based energy group Repsol a “confiscation” and said the seizure of the company was “illegal.”

“It was done outside the law and in an unpredictable manner. Specialists have been alerting us of possible energy problems for decades and we reacted mistakenly by confiscating YPF,” he remarked.

Macri also alerted for the safety problems on the city’s transportation system by saying there are “Subway trains older than the Sarmiento line trains.” Likewise, the Mayor blasted the government for the lack of investment and for trying to "asphyxiate" the city administration.