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Jacques-Olivier Martin: "The funny cocktail of Bruno Le Maire"

2020-03-01T21:54:09.960Z


CASE COMMENT - The Minister of the Economy has decided to play the alchemists of sovereign finance by asking the United Arab Emirates to invest in the French flagships.


France has no oil but ideas. And one of them, that's good, is to take petrodollars from the Gulf monarchies. This is how Bruno Le Maire went to sell the new fund called “Lac d'Argent” to the United Arab Emirates, just to convince them to inject $ 1 billion into French flagships, notably the champions of the CAC40.

Read also: Under a cloudy sky last year, the major French groups posted solid results

In the age of global finance, this approach is no longer exceptional. After all, Saudi Arabia is the first creditor of the Japanese Softbank's Vision Fund, the world's largest venture capital fund ($ 100 billion). On the other hand, it is a little more surprising to rely on foreign capital to protect the most sensitive national companies. For a time, this task was assigned to the strategic State or was based on a network of cross-shareholdings. Those days are long gone.

Countries that have bet on funded retirement like the United Kingdom

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Source: lefigaro

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