It is striking how France tries to promote the European Union while not
obeying its rules. It really does look as if the European Union is an effort by France
and Germany to subvert the liberties of the rest of the world, starting with Europe.
Complaints of American imperialism is one way to distract attention in Spain and
Poland away from the imperialism that really does threaten them. I was just reading an
August article that talked about French bailouts and protectionism, as well as
mentioning the budget agreement violation that actually occurred this past month. The
article is
"Rescue Mission: Saving a Company, Paris
Sets
Pattern Of Flouting the EU; Bailout of
Engineering Giant, Alstom, Eases Perils, Too, For Three French Banks; For Christmas,
Queen Mary 2,"
John Carreyrou. Wall Street Journal. (Eastern edition). New York, N.Y.: Aug 19, 2003.
pg. A.1.:
The trio of rescues is part of a broader pattern of flouting the EU's economic rules.
For the second year in a row, France is on track to exceed the union's budget-deficit
cap, which is meant to provide a stable economic environment for the euro. France has
also resisted opening up its power market even as its state-owned power company,
Electricite de France, has expanded across Europe through acquisitions.
...
"Not only do the French not seem to manage to adhere to the rules, but they don't even
seem to try," says William Lelieveldt, a spokesman for Dutch Finance Minister Gerrit
Zalm. Mr. Zalm has called on the EU to fine France.
So France did what European Union rules are supposed to forbid. It bailed out Alstom
with a generous package of state aid, undercutting the EU's attempt to keep a level
playing field for all European companies. The bailout marks the third time in two years
Paris has upset the EU by rescuing a French company. In 2001 and 2002, it lent 450
million euros to ailing computer maker Groupe Bull SA. Last fall, it extended a 9
billion euro credit line to France Telecom SA, which had racked up one of the world's
biggest debt loads.
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