"We're sure about what we're doing, that we've chosen the responsible path, and that it will bring results completely different from what's happening in Europe and even in Spain," Kicillof said as he presented the takeover plan in the Senate. "We have tried the bitter taste of austerity measures, and we know that when there's a profound crisis, the worst you can do is think that the state is bad, that the government is the problem.

"Government is the solution, and we've seen this in Argentina."

Detractors consider Kicillof to arrogant and inexperienced. They accuse him of disrespecting the rule of law, which they predict will hasten the government's eventual collapse. YPF's stock soared 8.5 percent Friday after the appointment of the industry veteran Galuccio was reported, suggesting markets had a negative view of Kicillof's role running the company.