Posted on 03/19/2020 8:49:43 PM PDT by Olog-hai
Italy has recapitalized its airline Alitalia, and France is considering similar moves to rescue affected companies. Now even Germany seems ready to use the ultimate weapon in the coronavirus battle: nationalization.
Italy has stepped up efforts recently to keep its bankrupt flagship carrier Alitalia afloat, with a new €600-million ($647 million) loan under discussion as part of a plan to renationalize the airline.
Meanwhile, the government in Paris has announced that the state would intervene in any way necessary to protect the country’s economic assets, with Finance Minister Bruno Le Maire saying that this could include capitalizing corporations or taking stakes in struggling companies. “I can even use the term ‘nationalization’ if necessary,” he told the French public this week.
But unlike France, where the state holds multiple stakes in industries from carmakers to energy utilities, German economic policy has long considered government stockholdings in private firms a violation of free-market orthodoxy.
As governments around the world are pulling out all the stops to get the coronavirus crisis under control, opinions in Germany about nationalization are changing.
Achim Wambach, the head of the ZEW Leibniz Centre for European Economic Research, says he doesn’t believe in state ownership of free-market enterprises, but adds: under normal conditions. […]
Wambach admits though, that in the coronavirus crisis governments must jump to the rescue of businesses by all means. Regarding German companies facing bankruptcy, he suggests a relaunch of “Wirtschaftsfonds Deutschland” — a refinancing vehicle that helped many companies survive the economic depression following the 2008/2009 financial crisis. …
(Excerpt) Read more at dw.com ...
Regarding German companies facing bankruptcy, he suggests a relaunch of “Wirtschaftsfonds Deutschland” — a refinancing vehicle that helped many companies survive the economic depression following the 2008/2009 financial crisis. …
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And, like the 2008/2009 “financial crisis”, this current “crisis” was largely created as a result of government actions.
It’s really not that big a deal to put up cash in exchange for non-voting equity stakes, with the proviso that these stakes must be sold as soon as that stake is worth what was put up.
Seems like a fantastic idea.
Worked fairly well for Venezuela.
Explain to me how nationalizing stops the ChiCom flu or fix the economy. Government can’t run anything as effectively as business. Cut regulations. Cut taxes. Forgive taxes. Abolish laws. Cut government. Increase private competition by removing barriers to enter and exit markets. Reform bankruptcy laws. Make low interest loans available with very long terms. There’s all kinds of things that can be done, and all have nothing to do with increasing the size and control of government. Bottom line: Increase freedom and liberty.
And so it begins.
So a deal where the taxpayers get the downside and not the upside and the guys who got bailed out get the upside and no downside. Right.
It did?
Does Bernie know this?
So this was the plan all along. Forced shutdowns to bankrupt businesses, then use that manufactured crisis as a pretext to nationalize them.
I suspect that this was the agenda, from day one. This is the plan - nationalisation, currency write downs, recapitalisation of the banks (which were failing, long before the first Corona case.)
Lol ! Major shiite going down ! Borders closed ! It’s back to the old days
Nigel Farage's dramatic final speech at the European Parliament ahead of the Brexit vote
Of course the Burn knows this... he’s how I know.
As you said, that is a bridge that is easy and free to go over in one direction, but can only be crossed back again with a toll of blood and death.
The article stipulates French and German Nationalization
Why is there not Euronalization? Why does not the Euro state nationalize?
As far as I can tell the Frogs and Krauts did nothing while the Italian hospitals battled the Wu Flu. I did not see any stories about them rushing doctors and equipment to Italy.
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