Nationalise the FTSE 100!!

Revolting Europe

The problem with the French government’s nationalization threat is only the timidity of this rediscovered dirigisme

The Socialist government is threatening to nationalise a €400m (£323m) steel plant in eastern France, unless the Indian-born billionaire Lakshmi Mittal agrees to sell it to a private buyer. Mittal’s company, ArcelorMittal, the world’s biggest steel-maker, wants to close or sell two blast-furnaces at Florange in Lorraine but to hold on to other profitable activities at the site. France insists that the whole complex must remain open under a single owner, or the blast furnaces won’t find a buyer and hundreds of high skilled jobs will go.

The nationalisation plan comes amid tense relations between the French government and Britain’s richest man. French Industry minister, Arnaud Montebourg, said earlier this week that Mittal was “no longer welcome” in France. He later backtracked somewhat after being reminded that the company employs 20,000 people in 100…

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