“The new French president wasted no time in forgetting his promises,” says Bloomberg.
France’s new president, Emmanuel Macron, vowed to attract more foreign investment and to push for greater European integration. His government’s decision to block an Italian takeover of France’s STX shipyard has broken both promises in one fell swoop.
The move makes a mockery of Macron’s insistence that his goal is to modernize the country and open it for business. Two months into his term, he’s already pandering to the protectionist sentiment that has made foreign companies reluctant to invest in France.
Macron’s election was hailed as a victory for openness and economic liberalism. It’s to be hoped that this early misstep is an aberration, not a sign of things to come.
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