Tuesday, October 21, 2008

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Sarkozy calls for partial nationalization of "key industries"

The Wirschaftsentwicklung China and Russia put some money in cash, in which Sarkozy is worried that they could buy cheaper at present shares in the power of companies that are generally accepted as French. Shall try the French President and current EU President in definition, what were the French and European key industries that would need to be protected from foreign powers and suggested an EU-funds, could acquire the greater part of this industry on the exchange.

The considerations are hardly explained, already rumbles Federal Economics Minister Michael Glos (CSU) going on that the "French proposal to all successful principles of our economic policy" inconsistent and "to distrust state economy in principle" was.

This is good if politicians to admit that their economy must be wary, because to state budgets be plenty of reason, but should that be the style that react with the German politicians on French and European proposals? If the Sun just nervous?

Well, I would be interested, the importance today of the term "key industry" at all, as today's economies seem to me nearly as globalized and mutually intertwined that any self-sufficiency efforts, as the French may be historically important, as for example the can antiques Germans, but also ideas of freedom and sovereignty and to convert, must develop with reality. However, when Sarkozy or
anyone else can explain, as would ensure that European companies are more in the welfare of Europe as an example, Asian companies - and less on profit, it would be against the government purchase of shares less objectionable. Therefore, his interest is not the same complaint. In general should be smoother breathing.

Moreover speaks much for the share acquisition, if it saves the government a say, but the promises the federal government to the taxpayers in return the banks to government assistance. And since the government believes that the "bailout" was necessary to save the banks for the industry, then it would certainly make sense to the industry with less detour to capitalize on the banks. The net interest margin for the taxpayer would be larger.
But once the KfW as well as the country's banks. And, unfortunately, failed - as the private sector. That's crap. But if Glos distrusts the state for such reasons, including not trust your own ability and that of his colleagues, then wonders why the government grants the banks at all due consideration and with what?
Or is such talk just hot air? The renunciation of "bonus payments" and cut salaries of "500,000" does not a summer that is long, is at best a sham, go to the interference it to the collar. If in the credit business nothing changes, not cutting back on speculative transactions, no liability for the officials, then nothing will change the system and therefore not on its crises. And we know to year is not whether we can afford the current crisis at all.
-Mark Rabago->> discussion


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