Posted on 11/26/2012 9:41:05 AM PST by DeaconBenjamin
Edited on 11/26/2012 9:17:15 PM PST by Admin Moderator. [history]
PARIS: French industrial renewal minister Arnaud Montebourg does not want steel giant ArcelorMittal in France anymore and is looking for an industrial partner with which to take the group's operations there over on a temporary basis, he said on Monday in an interview.
(Excerpt) Read more at timesofindia.indiatimes.com ...
“Industrial renewal,” socialist style.
Europe lost all its steel production, until that Indian guy came in and showed that even Europe could produce steel if it was managed right.
Now, having destroyed the central part of the business, they want to shut down the rest of it. I guess this is the end of that interesting experiment, where an Indian billionaire showed the Europeans that capitalism still works, if you try it.
It is to laugh...
I think that France will try to run the plant. They will pump billions of francs into it, because after all, the purpose of industry is to provide jobs. Who cares how much (taxpayers) money you lose? Talk about the tail wagging the dog.
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