Neelie Kroes to Sarkozy: protecting national champions is old fashioned
By Alex Singleton on Mar 31, 2007 in Globalisation
The Financial Times reports that the European Commission Neelie Kroes has criticised Nicolas Sarkozy’s support for protecting French companies:
The European Union’s competition commissioner on Friday expressed her “shock” at the protectionist rhetoric of Nicolas Sarkozy, the leading challenger for the French presidency, saying it was in France’s interests to promote the European single market and cross-border investment.
“I was really shocked when I read the Financial Times this morning that one of the candidates was pleading for more national champions and more protectionist action,” Neelie Kroes said at a press conference in Berlin.
“It is outdated to talk about national champions. It is outdated to talk about protectionism.”
It’s sad to see the arguments for protecting infant industries keep coming back when the overwhelming evidence is that infant industry protection doesn’t work - but good to see Kroes standing up for the market economy. And also on the plus side, Sarkozy recognises the failure of France’s 35 hour working week, apparently describing it as economic suicide and a social massacre.
