In a fresh surge of economic patriotism, French president Nicolas Sarkozy - whose country currently holds the six-month rotating EU presidency - on Thursday (23 October) announced plans to create a "sovereign wealth fund" to aid French businesses in the wake of the global financial crisis.
The fund, which is meant to be in place by the end of the year, will be managed by the state-controlled lender, Caisse des Depots et Consignations, and "will raise part of its money by borrowing on th...
Back our independent journalism by becoming a supporting member
Already a member? Login here