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EU: [French president] Francois Hollande shows true colours with threat to nationalise ArcelorMittal
The Telegraph ^ | 11/27/2012 | Ambrose Evans-Pritchard

Posted on 11/27/2012 2:48:19 PM PST by bruinbirdman

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.

It is even stranger to hear him say “we don’t want Mittal in France anymore”, more or less inciting the expulsion of the world’s 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. Don’t 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 Europe’s double-dip recession. Steel has a special hold on Europe’s political mind.

The mills on the grim Lorraine plateau have been the hub of France’s steel industry for 200 years,

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: collectivism

Nationalization = jobs program

1 posted on 11/27/2012 2:48:25 PM PST by bruinbirdman
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To: bruinbirdman

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.


2 posted on 11/27/2012 2:50:17 PM PST by GeronL (http://asspos.blogspot.com)
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To: bruinbirdman
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.

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.

http://www.independent.co.uk/news/business/news/eurozone-slump-costs-900-jobs-in-uk-steel-industry-8347673.html

3 posted on 11/27/2012 3:16:02 PM PST by Moltke ("I am Dr. Sonderborg," he said, "and I don't want any nonsense.")
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To: Moltke

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.


4 posted on 11/27/2012 3:28:39 PM PST by agere_contra ("An unjust law ceases to be a law: it becomes an act of violence". Thomas Aquinas)
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To: bruinbirdman

I supposed “Rearden Steel” is next! Time to go Galt!


5 posted on 11/27/2012 3:30:05 PM PST by Wisconsinlady ("When injustice becomes law, then resistance becomes duty." Thomas Jefferson)
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To: agere_contra

If Tata is forced to slash jobs, where will Mittal make a profit?


6 posted on 11/27/2012 4:15:56 PM PST by Moltke ("I am Dr. Sonderborg," he said, "and I don't want any nonsense.")
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To: bruinbirdman
Seems like the statists read Atlas Shrugged and think the ideas are great, they just weren't aggressive enough in nationalizing industry...
7 posted on 11/27/2012 4:20:27 PM PST by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
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