Tuesday, February 13, 2007

Sarkozy to tax "predators"

Although UMP candidate Nicolas Sarkozy is usually seen as a close friend of business, new comments in an interview with Les Echos signal that he is ready to tax certain kinds of financial institutions.

"We did not create the euro to have capitalism without ethics or morals. I am extremely worried about speculative movements. Who can tolerate a hedge fund buying a company with debts, firing 25 per cent of staff and then reimbursing them by selling it in pieces? Not me. I want to make France the country that rewards wealth creation, but which also knows how to hit predators."

Luckily for him, such a stance against what he calls captitalist "preadators" can only help him scrape up extra votes. Sarkozy is the most business-friendly mainstream candidate, leaving any true "French capitalists" without much of a choice. Bust if Sarkozy was breaking new ground on economics, he was also quick to criticize his rival Segolene Royal's recent presidential policy speech this past Sunday.

"The values Ms Royal puts forward are mollycoddling, egalitarianism and a levelling out [of society] (...) Where is the evolution of French socialism in the image of other European socialisms.

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