Despite declaring he would make France’s economy more liberal, Mr. Macron has shown a willingness to involve the state in industrial policy. Mr. Macron also oversaw measures granting double voting rights to long-term shareholders, increasing state sway in French companies where it holds shares. More recently as president, Mr. Macron has exerted that power in the name of saving jobs. While Mr. Macron’s early actions set a distinct pattern, it is not clear how much further he will go. “Not nationalizing STX would have been too expensive for him in terms of popularity.”In the case of STX, Mr. Macron’s government said its concerns went beyond jobs.

Source: New York Times August 01, 2017 17:18 UTC