France reaches for her bright future in the 18th century.

FRENCH PUT UP THE BARRICADES FOR KEY SECTORS

September 1, 2005 (The Times) - The European Commission was awaiting formal documents from Paris last night after the French Government outlined plans to shield companies in ten key industries from foreign takeover.

The Commission said that it would “scrutinise” [the] new French legislation ... The French decree, announced by François Loos, the Industry Minister, means the Government will be able to veto bids for some of France’s biggest companies.

The ten industries are: private security, arms manufacturers, biotechnology, pharmaceutical labs manufacturing antidotes, nuclear power, cryptology, computer security, defense contracting, communications interception, and casinos. Agribusiness did not make the list because, well, it has long been noli me tangere.

PARIS TRAMPLES ON BRUSSELS SENSIBILITIES

September 1, 2005 (The Times) - [This summer] President Chirac made clear his distaste for overseas ownership of the yoghurt maker [Danone]. He was reported as saying that “the splitting up and the instability of the capital of certain large French businesses are risk factors for employment and for our industrial strength.”

Prime Minister Dominique de Villepin went further. He called for “real economic patriotism”. “When times are hard, when the world is changing, it is a question of gathering our strengths . . . and defending France and things French,” he declared.

While Britain agonises over what might be meant by “Britishness”, the French are getting on with remaining French. “It’s better to anchor our companies in the national soil,” said M de Villepin.

That the French have always felt this way has been clear but that the leaders should now spell it out so clearly shows a remarkable lack of concern for sensibilities in Brussels.

The summer's French protectionist panty-twists received feisty coverage by our friend Carine over at E-Nough! here, here, here, and here.

FRANCE CAN'T GET AWAY WITH PROTECTIONISM: EU WATCHDOG

LONDON September 14, 2005 (AFP) - Europe cannot afford to stand by while countries such as France rule strategic sectors off limits to foreign takeovers, EU competition commissioner Neelie Kroes said Wednesday.

"We can't afford to be complacent when faced with the current resurgence of protectionist rhetoric... the risk is both serious and pressing," Kroes told a conference in London.

"Confronted by insecurity and a collective loss of confidence, some in politics are quick to seek easy gains by advocating inward and regressive policies," Kroes said.

The Dutch commissioner was critical of attempts "to protect champions and national brands, even European, from the effects of the world market" and of the urge to spend public funds "to relaunch lame ducks of industry".

The commissioner's criticism at the Liberal Democrat City Forum in London was a thinly veiled attack on the French government, which late last month announced its intentions to fence off 10 sectors from foreign control.

PFFT (What is this?): Latterday mercantilism 5 | Big Daddyism 4 | Rayonnement français 0

I'm actually with France on this one. I don't have a problem with any country protecting most of the industries named, excepting c asinos, biotech, and maybe computer security.

[M. Polo couldn't manage anything better than uninspired insult. It has been deleted.

The Management]