Friday, January 11, 2008

Man the Barricades! The Investors are Coming !

If anxious EUvians see all economics as warfare, their attempts at “going asymmetrical” are becoming hilarious:

French president Nicolas Sarkozy said he wants state-owned bank Caisse des Depots et Consignations (CDC) to form part of the defence of French companies in the face of attacks by speculative funds.

'In the face of the increasing power of extremely aggressive speculative funds and sovereign funds which do not obey economic logic (France is taking) the political and strategic choice to protect its companies, to give them the means to defend and develop themselves,' Sarkozy said.

'We are going to make the Caisse des Depots a tool in this policy of defence and the promotion of economic interests essential to the nation.'
While their coddled national champions are free to seek investment in foreign companies, not to mention pillaging the third world, as fair game.

Obviously pandering to the public, I don’t think Sarko quite gets that investment from abroad might be a good thing, and money might stop pouring into their little economic booby-hatch of a country.