Repsol nationalize its oil and gas production. Results however show that the move to nationalize actually hurt oil production in Argentina. Compared to the oil production in 2011, YPF’s oil production in 2012 fell by 8%, according to data from Argentina’s Department of Energy. Repsol had the backing of the EU and the US, and both powers condemned Argentina’s move as expropriation. President Fernández claimed that the state would seize 51% of YPF. In June 2013, Repsol rejected a $5 billion proposal from Argentina to compensate for the 2012 expropriation. The proposal also would have given Repsol drilling rights to 6.4%
Presidency of Cristina Fernández de Kirchner provinces, which causes looting. The year began with a renewed economic crisis, which led to a nationwide strike of teachers, and a general strike by union leader Hugo Moyano. The crisis was temporarily solved with a rise of the interest rate. On January 22, Cristina Fernández announced the government-sponsored programme "Progresar", which gives a monthly subsidy for youths aged 18 to 24 who wish to complete studies but are unemployed or work under the table. Cristina Kirchner visited Pope Francis for a third time. The scandal over Amado Boudou grew when he was summoned for inquiry by Federal Judge Ariel