Thursday, October 23, 2008


The Times:
Nicolas Sarkozy risked blowing apart the European consensus over how to deal with the financial crisis by proposing today that each country launch sovereign wealth funds to take stakes in key industries to stop them falling into foreign hands.

Sarkozy's economics policy is some sort of unholy, logically inconsistent amalgam of nationalist glory bullshit. Sometimes it results in good ideas (see: les trente-cinq heures), and sometimes it produces terrible ideas like this one.

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