When Britain resumed diplomatic relations with Argentina as from 1990, a diplomat at that time confided to this columnist that his instructions from the Foreign Office were topped by the golden rule of thumb: “Always remember that nothing in Argentina is ever as good or as bad as anybody will tell you that it is.”
This first month of 2026 now entering its second half has already seen two massive developments with local repercussions – Donald Trump’s hostile takeover of Venezuela via seizure of the dictatorial Nicolás Maduro and European Union approval of the free-trade agreement with Mercosur. The former event prompted a wave of gloom reflected in plunging shares for the energy sector on the assumption that Trump’s explicit aim of resuscitating the Venezuelan oil industry in order to drive down petrol prices and impress midterm voters would make Vaca Muerta shale far more of a dead cow than a cash cow by draining it of markets and capital – in contrast, the latter development so long-awaited triggered euphoric enthusiasm among the local business and farming communities
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