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| Europe |
| Protectionism is OK when we do it: Germany's Altmaier defends plan to protect some industries from foreign takeovers |
| 2018-09-27 |
| Hypocritical assholes. Protectionism is bad - as long as it's America doing it. We need to leave our markets wide open to be raped by anyone who comes along. But when it comes to European industries - oh dear no, they need protection! It's vitally important! BERLIN (Reuters) - German Economy Minister Peter Altmaier on Tuesday defended government efforts to shield some firms from foreign takeovers, arguing that the state had a responsibility to protect key technology and certain industrial sectors. Speaking to business leaders at an industrial conference in Berlin, Altmaier said: "Germany will remain the most open and most liberal country when it comes to mergers", but the government was considering stricter takeover rules. This is what is known as "lying". Berlin must be able to have a closer look at who wanted to buy parts of Germany’s critical infrastructure, and senior officials are working on changes to foreign trade regulations to ensure that key technologies remain in German hands, he said. And then his lips fell off. A government source said last month that Berlin wants the power to investigate if an investor outside the European Union buys at least 15 percent of certain German defense-related or security-linked technology firms. "Fuck off, Americans." In addition, the government is considering creating a billion-euro fund that could help such firms in financial trouble, another government source told Reuters last week. I thought those firms were supposed to be allowed to die, because to intervene would disturb the health of the market? Oh wait that's only for us. Their own industries are far too important. |
| Posted by: Herb McCoy |
| #1 the EUSSR is THE most protectionist bloc in the world. |
| Posted by: Bright Pebbles 2018-09-27 05:30 |