Bull again?
France's state-backed rescue of Alstom is all too familiar
“THE days when the state decided everything are past.” So declared Jacques Chirac, France's conservative president, during last month's Bastille Day celebrations in Paris. Alas, as his government's backing of a financial rescue of Alstom this week attests, he does not have the courage of his convictions.
This article appeared in the Business section of the print edition under the headline “Bull again?”
From the August 9th 2003 edition
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