Before threatening to nationalize private firms, politicians should start by nationalizing the state; that is to say to subordinate it to the vested interests of the Nation and not to their political and media ambitions.
What has just happened to Florange is indicative of this wrong. One can, one must even condemn Mr. Mittal’s strategy, who is not a financier of his word and with no industrial strategy; but a minister, in this case Mr. Montebourg, cannot forget that France is not North Korea and that it is developing in an economy open to influences from the four corners of the world. He cannot forget either that foreign investors – that all governments aim to win over, and who, before investing in a country, measure its attractiveness – can only be terrified when a minister says that one of them, who is employing there more than 20 000 people, is not welcome in France.
This media release, however well intentioned, will cost to the Nation billions in investments and therefore thousands of jobs. Obviously without expecting any results from this, since the nationalization of a steel plant without its distribution and processing capacities, and without its technology licensing, in a sector where the European surplus production capacity is sustainable, is meaningless.
One must be rather ignorant, or concerned with one’s image, to the detriment of the general interest, to raise among workers, from Lorraine and elsewhere, such false hopes. It was evident, from day one, that the nationalization of Florange made no sense, neither economic, nor social. That there was no buyer of good reputation. That the threat of nationalization is not a credible threat. And that to claim that nationalization would cost nothing because one would finance it by selling stocks of other state-owned companies is equivalent to someone claiming not to risk anything in the game since he is only leveraging his family jewels.
Mr. Montebourg has handled this dossier, as in other issues since he had taken office, in a dynamic, proactive manner, and has surely acted in good faith. But against the interests of the nation. Instead of doing his job as Industrial Recovery Minister, which is to create the conditions for the improvement of firms’ competitiveness, help generate the creation of new businesses, in particular “green” ones, facilitate networking among universities, research centres and companies, accompany the growth of medium-sized companies, attract foreign investments, he spends his time in the media pretending to defend lost jobs (or non-existent, since occupied by people leaving shortly for retirement), with no thoughts and concerns as to protection or training of those who are thus threatened, or attraction of new jobs in these territories. And by failing to explain (as the Prime Minister, instead of him, courageously did), with respect to nationalization of an industrial site, in a sector where demand has structurally collapsed, that it is an absurd idea, contrary to the interests of workers and territories; and which can only seduce cynical capitalists, who will see there a way to get taxpayers to finance their losses.
Nationalizing the State, is to put it at the service of the future. It means, for a minister to ask himself what he can do, modestly, which would be helpful for the generations to come. Without being concerned by one’s popularity. Being content with the world as it is, to make the most of it.
j@attali.com