In a welcome rebuke to those believing that posturing politicians are extinct, Hollande is claiming that Peugeot Citroen's planned 8000+ redundancies near Paris are "unacceptable".
I'm not quite sure what Hollande proposes that Peugeot does. Keep the workers but slash salaries for everyone to keep the wage bill down? Keep the workers on the same salary and keep losing money until the entire company goes into administration? Perhaps he should nationalise Peugeot and get civil servants to run it. I can't possibly see anything going wrong there.
It is perhaps unsurprising that when asked for specifics, Hollande weaseled:
However, Mr Hollande said on Saturday that the government would consider broader measures to help automakers and create incentives for consumers to buy French cars.Tax citizens to raise money to subsidise cars for them to buy. Words fail me. Still, I suppose we should be grateful that so far he hasn't proposed bailing out the union shareholders at the expense of the senior debt holders of the firm. Yet.
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