France is to set up a new “strategic investment fund” to stop French companies from falling into the hands of foreign “predators”, President Nicolas Sarkozy said yesterday.
The fund would be operated by Caisse des Dépôts et Consignations – France’s existing sovereign wealth fund – but would be “more active, more offensive, more mobile” in defence of French industrial assets, Mr Sarkozy said.
“I will not be the French president who wakes up in six months time to see that French industrial groups have passed into other hands,” he said in a speech to business leaders at Argonay, in the French Alps.
Got that? The leading cheese-eating surrender monkey doesn’t want other countries bogarting his industrial treasures. But uh-oh! here comes the BBC …
French energy firm EDF has unveiled plans to build four new nuclear reactors in the UK after it agreed to buy British Energy in a £12.5bn deal.
Subject to shareholder and regulatory approval, EDF – 85% owned by the French government – will take over British Energy’s eight UK nuclear power plants.
I think we should all start contributing to a social-investment fund and buy up every vineyard in the Bordeaux and Burgundy regions — just so we can sell the grapes to the Italians to make balsamic vinegar. That’ll teach him.
JUST FOR FUN: Nicholas Sarkozy in 'Paris Match' magazine, airbrushed to show him without love handles. (It's great to be the little emperor.)
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Now, if the United States did something like that the EU would sue us, saying we weren’t playing fair. And, that’s a shame we don’t something like that here. Maybe more companies would make the attempt to stay in the US and people might have half-way decent paying jobs.
Bigmama is right, of course.
No one else in the world plays fair, why should we have to?
You obviously don’t realize that France, because it occupies a unique place in world history and culture, is allowed to be an economic hypocrite. And airbrush the crap out of its head of state.
Nothing wrong here, Sarkozy is just saying he doesn’t want to be like the English Prime Minister when he (or she) realizes France owns four of his countries nuclear plants.
GRAMMAR EDIT:
… four of his country’s nuclear plants.
Why in the world does he care about love handles in pictures? Have you seen the guys wife? I’d be saying… “Check out my flab, SCORE!”
http://danong.com/data/2007/09/16/09100567_CarlaBruni.jpg
If all it takes is becoming king of France, looking like you smell like pepperoni pizza, and sporting a bigger waistline, I’m there. Just try and stop me.
Take that Al Gore!
I think the strategic investment fund is a very nice idea : it will show the French governement is broke, the coffers are empty and Sarkozy has a big mouth.
We (the French) have been vaccinated against socialitis encephalitis in the 80s after the socialist’s takeover in 81 and a vast nazi-onalisation campaign which went bust in just 3 years time. Now acute socialitis encephalitis has resurfaced, so the vaccination must resume. Unless massive dieoff due to spoiled vaccine will occur before any sign of improvment.
P.S. It’s sacrebleu, not “sacré bleu”
I agree with Rocko. This is a French industrial interest pulling in money from a foreign nation, not being bought out by one. He said industry wouldn’t emigrate, not that it wouldn’t export.