France and the Changing Face of Economic Power
The recent statement by France’s minister for industrial Recovery is not going to help France to continue to attract investment from the growth economies. Minister Arnaud Montebourg told French business daily Les Echos that, “We no longer want Arcelor Mittal because they do not respect France.”
“We no longer want Arcelor Mittal because they do not respect France.”
Mittal had announced plans to close two blast furnaces at its steel plant in Florange, breaking a promise made by CEO Lakshmi Mittal when Mittal Steel took over Arcelor in 2006 at a cost of 26.9 billion Euros. However, much has happened to the world since then and the industrial landscape is still changing rapidly.
Are such outbursts really going to help attract much needed investment into France? The Mittal Group currently employ over 20,000 people there and certainly many other European countries that would welcome Mittal Group’s presence.
You may have an interest in also reading…
Milan Fintech Summit 2024 Underlines Italian Ambitions
When asked to name the fintech capitals of Europe, most people would opt for Paris, Berlin, Stockholm, or the Baltic
Rolex vs Watch Flippers: How Certified Pre-Owned Became a Weapon of Pricing Power
Rolex has finally confronted the watch flipper economy — not by flooding the market or cutting prices, but by tightening
Cube Labs: Transforming Scientific Discovery into Scalable Healthcare Innovation
Italy-based Cube Labs is redefining healthcare venture building by bridging the gap between academic research and global markets—delivering measurable social
