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French Socialist: We're Just Doing What Obama Does

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User ID: 543618
United States
11/30/2012 04:13 PM

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French Socialist: We're Just Doing What Obama Does
The French politician who said Indian steel company ArcelorMittal should leave the country has told CNBC that his government is only acting like U.S. President Barack Obama.

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.

The news raised the specter of the nationalizations of the early 1980s, which were instigated by Hollande’s predecessor Francois Mitterrand.

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.”

Montebourg is believed to be referring to the takeover of struggling automakers by the U.S. government earlier in the financial crisis.

[link to www.cnbc.com]
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User ID: 28152425
United States
11/30/2012 04:43 PM
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Re: French Socialist: We're Just Doing What Obama Does
Well, he didn't lie...