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Ambrose Evans-Pritchard–Francois Hollande shows true colours with ArcelorMittal natnalisn threat
Thirty years have passed since French president François Mitterrand launched Europe’s last great wave of nationalisation, seizing the banks, insurance groups, arms makers and steel industry in the culminating debacle of the Collectivist era.
The whole world has been living in an era of privatisation ever since.
So it seems like a strange step back in time to hear France’s minister of industrial renewal, Arnaud Montebourg, threatening a “temporary public takeover” of ArcelorMittal’s steel operations in the Lorraine plateau ”“ purportedly to save the blast furnaces of Florange and their 2,500 workers, so sacred in the Socialist Party catechism.
Read it all.