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Date Posted: 10:56:30 02/25/09 Wed
Author: pastor lewis
Subject: SARKOZY CALLS ON EU TO PROTECT OWN INDUSTRY

SARKOZY CALLS ON EU TO PROTECT OWN INDUSTRY

February 25, 2009

The EU Observer reports: “French president Nicolas Sarkozy on Tuesday (24 February) called on the EU to protect its industry in the face of US protectionism, and said France and Italy would insist on this during a meeting of EU leaders in Brussels on Sunday.

‘There must be competition, but competition to build big European groups, not to make the totalities of our industries delocalize. France and Italy will as soon as Sunday [at an emergency EU summit] speak with one voice to ask Europe to take decisions, strong decisions,’ Mr. Sarkozy told the press following a meeting with Italian prime minister Silvio Berlusconi in Rome.

‘You know how much I cherish the friendship with the United States, but if the United States defends its farmers as it does, maybe we can do the same in Europe. If the United States defends its industry, as it does - and they are right - maybe in Europe we can do the same,’ he added.

The French president's comments come as the US earlier this month adopted a $787 billion (€617 billion) package to boost its economy. The bill contains ‘Buy American’ provisions prohibiting foreign steel companies bidding for US infrastructure contracts financed by the plan. The European Commission has already raised concerns about the clause.

France itself has been accused of protectionism after earlier this month unblocking €6.5 billion for its car industry, and Mr. Sarkozy speaking out against delocalization of French factories, notably to eastern Europe.

Later on, Spain and Italy also adopted state aid schemes for their ailing car industries, with Germany also considering a bailout of car maker Opel.

The French president defended the moves, arguing that member states were forced to take such measures because of the lack of a common EU policy…”

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