Friday, July 28, 2017

Asia Hedged — Macron nationalizes shipyard to avert Italian takeover

So much for economic liberalism
Does this signal the beginning of the endgame?
The Financial Times played up the move as a rebuke of economic liberalism quoting the Le Maire as saying the decision had a “single objective” to “defend France’s strategic interests in shipbuilding” and guarantee jobs remain in the country.
Le Maire emphasized that the move is temporary, saying “the Saint-Nazaire shipyards are not destined to remain under state control… the pre-emption decision is temporary and should give us the time to negotiate in the best conditions.”
An editorial in Il Sole 24 Ore, however, offered a warning: “The more weeks go by, the more Macronism is showing an old face, it’s the usual France with its protectionist, sovereignist, statist, dirigiste instinct.”
Emmanuel de Gaulle?

It had already begun with Macron positioning himself as mediator between Russia and the West, that is, the Eurasianists and the Atlanticists.

Asia Times
Macron nationalizes shipyard to avert Italian takeover
Asia Hedged

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