French Socialist Minister: We're Just Nationalizing Industries, Like Obama's Doing In

[Wehrwolfen]

French Socialist Minister: We're Just Nationalizing Industries, Like Obama's Doing In the US​

—Ace

Indeed.

Industry Minister Arnaud Montebourg, a member of the governing Socialist party, caused controversy last week when he said that the Indian company, which employs close to 20,000 people in France, should leave after it said it would have to close down a factory.
The French government announced on Thursday that it could nationalize the factory in question, with backing from an unnamed businessman.

~~~~~​

Montebourg told CNBC after a meeting with trade unions in Paris: “Barack Obama's nationalized. The Germans are nationalizing. All countries are nationalizing. I've also noticed the British nationalized 6 banks.”​

Everyone seems to think Obama's a socialist except the American media.

And how is all this socialism working out for Europe? Not well.

The unemployment rate continued its steady rise, reaching 11.7% in October, up from 11.6% the month before and 10.4% a year ago.
A further 173,000 were out of work across the single currency area, bringing the total to 18.7 million.
Royal Bank of Scotland's Alberto Gallo

Please turn on JavaScript. Media requires JavaScript to play.

Royal Bank of Scotland's Alberto Gallo: "The real issue is we're in a two-speed Europe"

The respective fortunes of northern and southern Europe diverged further. In Spain, the jobless rate rose to 26.2% from 25.8% the previous month, and in Italy it rose to 11.1% from 10.8%.

In contrast, unemployment in Germany held steady at 5.4% of the labour force, while in Austria it fell from 4.4% to just 4.3%.​

Read more:
Ace of Spades HQ

 

[J.E.D]

So now conservatives take the French at their word? I thought you guys thought that they're worthless scum not to be trusted.

 

[percysunshine]

Eventually Obama is going to have a falling out with the European Socialists. At heart, Obama is a Fascist. He is using the Benito Mussolini economic policy of favored company status and moving risk from the private to public sector, while keeping the companies profits alive. I give you GM, GE, every solar manufacturer, Goldman Sachs, Merrill Lynch ...the list goes on...