Skip to comments.EU: [French president] Francois Hollande shows true colours with threat to nationalise ArcelorMittal
Posted on 11/27/2012 2:48:19 PM PST by bruinbirdman
Thirty years have passed since French president François Mitterrand launched Europes 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 Frances minister of industrial renewal, Arnaud Montebourg, threatening a temporary public takeover of ArcelorMittals 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.
It is even stranger to hear him say we dont want Mittal in France anymore, more or less inciting the expulsion of the worlds must successful steel tycoon since the Scottish crofter Andrew Carnegie.
Mr Montebourg has since toned down his remarks slightly, saying his gripe is with the alleged Mittal method of blackmail, threats, and failure to abide by commitments not the man himself.
With or without caveats, Mr Montebourg made an easy target on Tuesday for London Mayor Boris Johnson, who told his hosts in India that all refugees from Socialist Terror in Paris are welcome across the Channel.
The sans-culottes appear to have captured the government in Paris. I have no hesitation in saying here, Venez à Londres, mes amis. Dont wait to be persecuted and put in the tumbrils by the regime. Come to London, he said.
Yet behind the jousting is a neuralgic issue for France, one that goes beyond a commercial dispute over a rustbowl plant in an industry battling Chinese over-production and Europes double-dip recession. Steel has a special hold on Europes political mind.
The mills on the grim Lorraine plateau have been the hub of Frances steel industry for 200 years,
(Excerpt) Read more at telegraph.co.uk ...
Nationalization = jobs program
Jobs program that loses massive amounts of tax dollars, produces less and less product at lower quality... this is always what happens when things get nationalized.
ROTFLMAO! Ambrose & Boris, the Dynamic Comedy Duo. Yes, come to Britain and be made redundant by that other Indian steel mogul, Tata, instead!
British workers were revealed as the latest victims of the eurozone recession yesterday, as Tata Steel yesterday announced it will cut 900 jobs across the UK, almost 4 per cent of its British workforce, in response to rising losses and plunging demand in its all-important European markets.
Around 580 jobs will go at the Indian group's Port Talbot plant in South Wales, with most redundancies coming from management and administrative posts. Another 155 redundancies will be made in Yorkshire, 120 in the West Midlands and 30 on Teesside.
Mittal can come to England and escape the god-awful French steel unions AND the Terror at the same time.
And it sounds like there are at least a thousand UK guys they can fit into their operation at a bargain price right away.
I supposed “Rearden Steel” is next! Time to go Galt!
If Tata is forced to slash jobs, where will Mittal make a profit?