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…
Greece: The Primacy of Politics to Provide a Solution
Just a few years ago, Forbes Magazine – that self-proclaimed “Capitalist Tool” – identified the primacy of politics as the
Byblos Bank Europe (BBE): A Niche Bank Getting Bigger and Better
Belgium’s BBE has old-school values and a modern take on operational excellence. In the global arena of international finance, always
Europe as Solution: Facts and Myths
Extracts from a January 2013 speech delivered in Portugal by José Manuel Durão Barroso, President of the European Commission I
